Siemens Financial Services expands leasing business in northern Europe

New organization and special management team reinforces growing new business in the markets of Sweden, Denmark, Norway, Finland and Estonia

Siemens Financial Services (SFS) seeks growth in the northern European leasing market. The provider of financial solutions is reinforcing the expansion of its individual low-volume leasing agreements in this region. This will add new market potential to the financial solutions provider’s already successful structure business (more customer individual mid-volume leasing agreements). SFS previously operated separate leasing companies in Norway, Sweden, Finland and Estonia. Today, SFS operations in these countries, together with newly started business in Denmark, form one Nordic region. A new organizational structure has been set to address the new business approach with a uniform strategy. A special management team for the region has been formed and coordinates the activities. Members of the German-Nordic team are Anders Åström (Chief Executive Officer), Patrik Olsson (Chief Risk Officer) and Thorsten Otte (Chief Financial Officer).

The headquarters for the region are located in Umea, Sweden, and operations are run from offices in Stockholm, Gothenburg, Malmo, Oslo, Copenhagen, Helsinki and Tallinn. Until now, SFS mainly focused on structure business in northern Europe; the leasing business in the region was carried out in each individual country. With its 100 employees in the Nordic region, SFS will now be able to increasingly offer a larger spectrum of financial solutions to manufacturers and resellers of targeted equipment types.

Kari Kupila, Head of SFS’ international division Equipment & Sales Financing comments: "The expansion in the Nordic markets fits perfectly into our overall European growth strategy. We have detected a substantial market potential within the nordic region for the flow-oriented leasing business. With our teams in the Nordic countries we are able to offer our customers not only very quick and flexible financing solutions but also further services like e.g. insurances and the opportunity to purchase used equipment. Both manufacturers and resellers get added value with these solutions."

"Northern Europe and the new EU member states represent very important growth markets for financial services. Demand for financial solutions is immense, particularly in emerging economies such as Estonia. With its local leasing firms and local know-how, SFS can now cover this demand more efficiently and more individually," adds Anders Ã…strom, CEO of SFS in the Nordic region.

In expanding its business in northern Europe and the Baltic states, SFS can draw on longstanding, in-depth financial and industrial expertise. Its leasing offers will primarily focus on the IT, telecommunications, medical equipment, and office equipment segments.

For further information, please contact:
Cathy May or Sarah Beckett
tel: +44 (0)20 7434 2090

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