Siemens Financial Services, Inc. Announces New CEO

ISELIN, N.J., May 3 /PRNewswire-FirstCall/ -- Siemens Financial Services, Inc. (SFS Inc.), the U.S. unit of Siemens Financial Services, announced today the appointment of Kirk Edelman as President and Chief Executive Officer, effective May 1st, 2010.  Edelman brings more than 20 years of finance experience, focusing specifically on energy and infrastructure finance for the past 14 years.  He succeeds Roland Chalons-Browne who was recently appointed to global CEO of the Siemens Financial Services division.  

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Joining SFS Inc. in 2007, Edelman served as Senior Vice President and General Manager of the company's Energy Finance business and was among a number of new executives charged with aligning the company's product offering with Siemens' core businesses – energy, industry and healthcare.  In this role, Edelman successfully built a robust energy finance platform for SFS Inc.

"Roland Chalons-Browne has done a tremendous job growing the SFS Inc. business in recent years and I look forward to building upon this success and further strengthening the company as a strategic partner to Siemens and our growing roster of third party customers," Edelman said.  "By focusing on sectors such as healthcare, energy and industrial, we are well-positioned to deliver solutions that fully leverage our Siemens knowledge and expertise, setting us apart from other financial services firms."

"Kirk's background and experience make him a great person to take over the company, both for the people of SFS Inc. and our customers," Chalons-Browne said.  "He clearly has the vision and leadership qualities to guide SFS Inc. into its next phase of growth."

Prior to joining SFS Inc., Edelman has had roles ranging from CFO to Project Engineer with various finance and energy companies in the U.S.  He will be based in Iselin, New Jersey.

About Siemens Financial Services

Siemens Financial Services (SFS) is an international provider of financial solutions in the business-to-business area. With about 1,900 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, SFS supports Siemens as well as non-affiliated companies, focusing on the three sectors of energy, industry and healthcare. SFS finances infrastructure, equipment and working capital and act as a competent manager of financial risks within Siemens. Further information is available on the Internet at: www.siemens.com/finance.

Siemens Financial Services, Inc. (SFS Inc.) the US unit of Siemens Financial Services is a leading provider of business-to-business financial services in the United States. SFS Inc. is a committed business ally that combines deep industry expertise with integrated financing solutions to enhance the efficiency, productivity, and competitiveness of its customers. The company, based in Iselin, NJ, enables business expansion for thousands of customers in the healthcare, energy, and industrial sectors by providing customized solutions that range from equipment financing and working capital to project and export finance, and insurance solutions. Further information on Siemens Financial Services in the United States:  www.usa.siemens.com/financial.

About Siemens

Siemens AG (NYSE: SI) is a global powerhouse in electronics and electrical engineering, and operates in the industry, energy and healthcare sectors.  For more than 160 years, Siemens has built a reputation for leading-edge innovation and the quality of its products, services and solutions.  With 405,000 employees in 190 countries, Siemens reported worldwide revenue of $104.3 billion in fiscal 2009.  With its U.S. corporate headquarters in New York City, Siemens in the USA reported revenue of $21.3 billion and employs approximately 64,000 people throughout all 50 states and Puerto Rico.  For more information on Siemens in the United States, visit www.usa.siemens.com.  

SOURCE Siemens Financial Services, Inc.