Dominik Asam to head the Group and Management Board of Siemens Financial Services GmbH
For the business and financial press
Munich, July 31, 2007
Effective October 1, 2007, the Corporate Executive Committee of Siemens AG has appointed Dominik Asam, 38, to be the new Group President and Head of the Management Board of Siemens Financial Services GmbH (SFS). He will succeed Herbert Lohneiß, 61, who will serve as a consultant to the company as of October 1. An additional change taking effect on October 1 will be the integration of all treasury and insurance-related activities into the SFS Group with the exception of selected corporate tasks.
Asam has headed Corporate Finance Treasury since 2006 and, in this responsibility, works closely with SFS. �"In Dominik Asam, we have found a strong entrepreneur to head the financial services Group. He has years of experience at one of the world�'s leading investment banks in international financial centers, and he has also proven his leadership competencies and strategic skills in industrial companies," said Joe Kaeser, Chief Financial Officer of Siemens AG. �"At SFS, everything is set to accelerate profitable growth in the external business, to support and drive Siemens sales as a financial services provider and to strengthen its role as a center of competence for financial risk management at Siemens. I am confident that SFS will make a significant contribution to the successful implementation of our strategy in the coming years by focusing its services on the three application fields energy, industrial infrastructures as well as healthcare," Kaeser said.
�"I am very much looking forward to working with all SFS colleagues in my new role and to further developing financial services of Siemens to the benefit of customers, investors and employees," Asam said.
Dominik Asam was born in Munich on March 6, 1969. He earned his degree in mechanical engineering at the Ecole Centrale in Paris and the Technical University in Munich, followed by an MBA at INSEAD business school in Fontainebleau, France. He started his career at Goldman Sachs in investment banking in Frankfurt/Main in 1996. Within Goldman Sachs, Asam moved on to New York and London, where he became the executive director for investment banking in the semiconductor industry from 2000 onwards. In 2003, Asam joined Infineon, where he was in charge of investor relations, M&A, corporate ventures and corporate strategy. From October 2005 to January 2006, Asam was a member of the management team at Siemens Financial Services GmbH before he took over responsibilities for Corporate Finance Treasury in February 2006.
Also effective October 1, Siemens Venture Capital as well as the financial responsibilities for global pensions that have been part of the Siemens headquarters will be integrated into SFS. Inside SFS, the Investment Management and Treasury & Financing Services divisions will be merged into Treasury & Investment Management. Except for selected corporate tasks that will remain at Siemens headquarters, SFS will perform all treasury and insurance-related functions for Siemens.
With its roughly 1,800 employees and an international network of financial companies coordinated by Siemens Financial Services, Munich, the Siemens Financial Services (SFS) Group offers a broad range of financial services. This covers everything from sales and investment financing to treasury services, fund management and insurance brokerage. SFS's key customers are above all internationally active industrial and services companies, as well as public-sector operators.
For more information see: www.siemens.com/finance.