Dominik Asam to Head the Group and Management Board of Siemens Financial Services GmbH

    MUNICH, Germany, Aug. 1 /CNW/ - 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:

For further information:

For further information: Siemens AG, Corporate Communications, Media
Relations, D-80312 Munich; Reference number: SFS 2007.6e, Siemens Financial
Services, Press Office, Dr. Hartmut Hubner, 80200 Munich, Germany, Tel.:
+49-89-636-89911; Fax: -35485, E-mail:

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