Daimler Financial Services India appoints Fred Weick as its new managing director

Daimler Financial Services (DFS), the captive finance arm of Daimler AG, announced the appointment of Fred Weick as the new managing director of Daimler Financial Services India (DFSI).

Established in 2011, DFSI was originally headed by Sidhartha Nair, who has since moved on to a new role within the DFS Group as the head of strategy for the Americas region.

Speaking on the appointment, Peter Henn, Daimler Financial Services Board of Management Member responsible for the AAP Region, said, “We are excited to have such a seasoned and valued colleague like Fred join the DFSI team. 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 managing director of Mercedes-Benz Financial Services Portugal, Fred Weick’s long-term responsibility at DFSI will be to fuel growth for India’s growing captive finance segment. By catering to customers needs with tailor made finance solutions in a quick and efficient manner, he hopes to create scale for the business. 

In July 2014 Daimler Financial Services completed three years of operations in India, managing a portfolio size of over Rs 2,500 crore. DFS has a team of over 100 employees supporting all Daimler auto financing needs across India both for passenger cars and commercial vehicles.