Daimler Financial Services (DFS), the captive finance arm of Daimler AG, announced the appointment of Fred Weick as the new Managing Director of Daimler Financial Services India (DFSI).

Friedrich Weick,MD, DFSIEstablished in 2011, DFSI was originally helmed by Sidhartha Nair, who has since moved on to a new role within the DFS group. Nair is now the Head of Strategy for the Americas region.

Speaking on the appointment, Peter Henn, Daimler Financial Services Board of Management Member responsible for the AAP Region said, “We are excited to have such a seasoned and valued colleague like Fred join the DFSI team. India is a huge market with a wealth of opportunities. We are confident that Fred will continue to build on the solid foundation built by his predecessor Sidhartha Nair.” 

Previously the Managing Director of Mercedes-Benz Financial Services Portugal, Weick’s long term responsibility at DFSI will be to fuel growth for India’s growing captive finance segment. By catering to customers’ needs with tailor made finance solutions in a quick and efficient manner, he hopes to create scale for the business.

In July, 2014 Daimler Financial Services completed 3 years of operations in India, managing a portfolio size of over Rs 2,500 crore.

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