Daimler Financial Services (DFS) today announced the appointment of Fred Weick as new Managing Director for India operations.
The company, which is the finance arm of Daimler AG, today announced the appointment of Weick as the new MD of Daimler Financial Services India (DFSI), DFS said in a statement.
Established in 2011, DFSI was originally helmed by Sidhartha Nair, who has since moved on to a new role within the DFS group.
He is now the Head of Strategy for the Americas region.
Commenting on the appointment, DFS Board of Management Member Peter Henn said: "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 MD 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, he added.
In July 2014 DFS completed three years of operations in India, managing a portfolio size of over Rs 2,500 crore.
With innovative and value added finance options introduced by DFS India in the luxury car and commercial vehicle space, DFS is committed to playing a key role in the growing captive finance segment of India, the company said.
