Siemens Financial Services

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Siemens Financial Services GmbH
Gesellschaft mit beschränkter Haftung
Traded as FWB: SIE, NYSE: SI
Founded 1997 in Munich
Headquarters Munich, Germany
Area served
 Worldwide
Key people
 Roland W. Chalons-Browne (CEO), Dr. Peter Moritz (CFO),
Products Equipment financing & leasing, vendor finance, asset-based lending, private equity, project and equity participations, project and export financing, industrial insurance solutions, private finance solutions, asset management, treasury solutions, structured financing, banking
Services Business services, financing
Number of employees
 2,600
Parent Siemens
Website finance.siemens.com

Siemens Financial Services GmbH is a subsidiary of Siemens. The company’s global headquarters is in Munich, Germany. The Financial Services division of Siemens (SFS) offers international financing solutions in the business-to-business area. Financial Services serves Siemens as well as other companies – primarily in the energy, industry, healthcare and infrastructure & cities markets. The division finances infrastructure, equipment as well as working capital investments, and acts as a manager of financial risks within Siemens AG. The network of financing companies coordinated by Siemens Financial Services GmbH in Munich comprises about 2,600 employees worldwide.[1]

History

The Siemens Group first bundled its financial activities into an organizational unit in October 1997. In addition to developing the financial business, the main focus at the time was to increase transparency for investors – by creating a separate financing balance sheet. Since 1999, Siemens Financial Services has been the center of expertise for financial services and the provider of financial risk management for Siemens in the market for business-to-business financial solutions.

From the very start, SFS’ responsibility included Siemens’ leasing and alternative forms of asset and equipment financing as well as project financing and equity participations. SFS was also put in charge of Siemens’ treasury and payment-transaction solutions as well as of the financial management of pension assets. In 2000, these responsibilities were expanded to include Siemens’ insurance operations – and later its venture capital activities.

In addition to the expansion of business operations, SFS’ international presence has grown (including the acquisition of Schroder Leasing in Great Britain in 2000).

In recent years, expansion has taken place not only in the established European and North American markets, but also increasingly in emerging markets. In March 2005, Siemens Financial Services established its own leasing company in China, Siemens Finance and Leasing Ltd. (SFLL) with headquarters in Beijing. At the start of 2011, Russia’s Federal Antimonopoly Services approved the acquisition of ZAO DeltaLeasing, a provider of equipment financing in Russia. On October 1, 2011, DeltaLeasing was renamed OOO Siemens Finance.[2]

In June 2011, Siemens Financial Services Private Limited was established in India[3] and was granted its non-banking finance license (NBFC license) from the Reserve Bank of India (RBI).[4] Since then, the subsidiary has been providing financing solutions for Siemens’ customers in India.

At the end of 2010, Siemens Financial Services received its banking license[5] in Germany from the German Federal Financial Supervisory Authority. Siemens Bank GmbH adds loans and guarantees to the SFS product portfolio particularly in the sales-financing area.

Executive management

  • Roland W. Chalons-Browne, CEO of Siemens Financial Services GmbH since February 2010.
  • Dr. Peter Moritz, CFO of Siemens Financial Services GmbH since March 2006.

Business units

Siemens Financial Services (SFS) has eight Business Units:

  • Commercial Finance (COF), CEO Jonathan Andrew
  • Project & Structured Finance (PSF) Energy, CEO Kirk Edelman
  • Project & Structured Finance (PSF) Infrastructure and Cities & Industry, CEO Johannes Schmidt
  • Project, Structured and Leveraged Finance (PSLF) Healthcare, CEO Anthony Casciano
  • Venture Capital (VC), CEO Ralf Schnell
  • Insurance (INS), CEO Alexander Mahnke
  • Treasury (TRE), CEO Hans-Peter Rupprecht
  • Financial Services and Investment Management (FIM), CEO Hans-Peter Rupprecht

Global reach

As a worldwide financial services provider in the business-to-business area, SFS has an international network of financing companies at its disposal (as of Sept. 30, 2011).

  • North and South America
    • Total assets €6.4 billion
    • Project volume with financing requirements €8.7 billion
  • Europe, Africa & CIS
    • Total assets €7.8 billion
    • Project volume with financing requirements €22.6 billion
  • Asia, Australia, and the Middle East
    • Total assets €0.4 billion
    • Project volume with financing requirements €11.4 billion

Research

The company provides research covering aspects of finance. Research reports written over the past four years include:

2011 2010 2009 2008
The Affordable Metropolis[6] Energy down, momentum up 2010 Riding the Storm – A study on the current financing situation Counting the Cost - analyzing the real impact of the international financial crisis on relationship banking for European business
Investment in Focus Navigating uncertain waters Maintaining the green momentum – A study of European private sector investment in green equipment and technologies Putting Capital to Work - A study of private sector working capital in Europe and the United States
Medical Equipment and Frozen Capital Energy Efficiency - Trends, Investment Challenges & Financing Solutions
Productivity – Providing answers to a dynamic global market
Integrated Healthcare – Challenges in the medical sector

External links

Further reading

  • Feldenkirchen, Wilfried (2000). Siemens, From Workshop to Global Player, Munich.
  • Feldenkirchen, Wilfried / Eberhard Posner (2005): The Siemens Entrepreneurs, Continuity and Change, 1847–2005, Ten Portraits, Munich.

References

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