Effective from 1 October 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 1 October. An additional change taking effect on the same date 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. 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 from 1 October, 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.
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