BMW India Financial Services has appointed Andreas Modlmayer as its new Managing Director and Chief Executive Officer, succeeding Joejoon Lee, the company announced today.
Modlmayer, who has been with the BMW Group since 2000, comes to India after serving as CEO of BMW Austria Bank in Greece. His extensive experience includes leadership positions in BMW Group Financial Services across multiple markets including New Zealand, China, and Hong Kong. He began his career with BMW Bank GmbH Munich in the Sales and Marketing function.
Lisa Ng, Regional Chief Executive Officer of BMW Group Financial Services for Asia Pacific, expressed confidence in the new appointment, stating, "Andreas Modlmayer brings with him valuable expertise and leadership acumen, with successful development of BMW Financial Services in diverse markets for over two decades. India is an important market for us, and we are confident that he will further add to the company's growth as he takes charge of BMW India Financial Services."
She also acknowledged the contributions of the outgoing CEO, adding, "We thank Joejoon Lee for his immense contribution to BMW India Financial Services in the recent years. He successfully steered the company with new initiatives in product offerings and customer centricity and strengthened the foundation for future growth. We wish him all the best as he returns to BMW Korea once again."
Under Lee's leadership, BMW India Financial Services maintained its position as a premium provider of end-to-end automotive financial solutions in India.
BMW India Financial Services, a wholly owned subsidiary of the BMW Group, has been operating in India since June 2010. Headquartered in Gurugram, the company offers three primary business lines: Retail Finance, Commercial Finance, and Insurance Solutions (as corporate agents). These services cater specifically to the premium clientele of BMW, MINI, and BMW Motorrad.