BMW Financial Services North America Appoints New CEO.
- Phil DiIanni
- Mariella Kapsaskis
- Birgit Boehm will succeed Stefan Richmann as CEO for BMW Group Financial Services in the U.S. and Region Americas, effective April 1, 2022.
Woodcliff Lake, NJ – April 1, 2022… BMW Financial Services NA, LLC announced today that Birgit Boehm would succeed Stefan Richman as the CEO of BMW Group Financial Services in the U.S. and Region Americas, effective April 1.
In her new role Boehm will be responsible for leading business strategy and operations for BMW Group Financial Services in the United States, Canada, Mexico, and Brazil. She had previously served as senior vice president finance and group treasurer of BMW Group since April 2018.
Boehm will report directly to Gerald Holzmann, the global head of BMW Group Financial Services in Munich.
“Birgit brings a wealth of global experience, a familiarity with the U.S. market, and a long track record of success to her new role,” said Holzmann. “Under her guidance and leadership, I have no doubt that BMW Group Financial Services in the region will continue to be an asset not only to the national sales companies, but most importantly to our customers as well."
Boehm joined the BMW Group in April 2018 after 26 years working in various finance functions across the automotive industry in Europe and the U.S. After completing her bachelor’s degree in business administration in Münster (Germany) and Madrid (Spain), she graduated from Stanford University with a master’s degree in management.
Stefan Richmann will return to BMW Group headquarters in Munich after more than five years in the U.S. to take on a new role as senior vice president of corporate strategy. Prior to his role as the CEO of BMW Group Financial Services, Richmann was the executive vice president and chief financial officer of BMW of North America.
BMW Financial Services NA, LLC
BMW Group Financial Services was established in the U.S. in 1992 to support the sales and marketing of BMW products. Since then, the Group has expanded to provide service to markets in multiple countries and continues to evolve beyond its role as a captive finance unit. BMW Group Financial Services offers a wide range of leasing, retail and commercial financing and banking products tailored to meet the needs of the BMW customer. The Group also provides financing to BMW dealers for expanding dealership capabilities and enhancing overall operations. With more than $45 billion in serviced assets and 1,300,000 automotive lending customers across the U.S., BMW Group Financial Services finances more than three-quarters of the BMWs sold or leased in North America. BMW Group Financial Services employs more than 1,000 people, including consultants and service providers, many of whom are located in the Hilliard, Ohio, which serves the U.S.A., Brazilian, Canadian and Mexican markets through its Regional Service Center.
In 2001, the MINI Financial Services division was established to provide support for the brand’s dealers and its customers by offering financing and leasing options and branded financial services products.
BMW Group in the United States.
BMW of North America, LLC was established 50 years ago to support the sales, marketing and distribution of BMW automobiles in the U.S. BMW Motorrad was brought into the fold in 1980. In 1993 BMW Group Financial Services NA, LLC was founded, and one year later BMW Manufacturing Co., LLC began assembling vehicles in South Carolina. In 2002 and 2003, BMW Group established MINI USA, and Rolls-Royce Motor Cars NA, LLC relaunching two iconic brands and rounding out its product portfolio.
Today, the BMW Group has a nationwide corporate footprint in the U.S. which consists of nearly 30 locations in 12 different states. Beyond the National Sales Company and Financial Services headquarters in Woodcliff Lake, NJ, its manufacturing plant in Spartanburg, South Carolina, and numerous other operational facilities, BMW Group in the U.S. also includes Designworks, a strategic design consultancy in Santa Monica, CA, BMW Group Technology Office USA, a technology research and development center in Silicon Valley, and BMW i Ventures, a venture capital fund, also in Silicon Valley.
BMW Group Plant Spartanburg is the largest single BMW production facility in the world, and the global center of competence for BMW Sports Activity Vehicles including the X3, X4, X5, X6, X7, and XM. The plant assembles more than 1,500 vehicles each day, and up to 450,000 annually. Since 1994, Plant Spartanburg has assembled nearly 7 million BMW vehicles in the U.S.
The BMW Group sales organization in the U.S. is represented through a network of 350 BMW retailers, 144 BMW motorcycle retailers, 105 MINI passenger car dealers, and 38 Rolls-Royce Motor Car dealers. The company’s activities provide and support over 120,000 jobs across the U.S. and contribute more than 43.3 billion to the U.S. economy annually.
Journalist note: Information about BMW Group and its products in the USA is available to journalists on-line at www.bmwusanews.com www.miniusanews.com and www.press.bmwna.com
In her new role Boehm will be responsible for leading business strategy and operations for BMW Group Financial Services in the United States, Canada, Mexico, and Brazil. She had previously served as senior vice president finance and group treasurer of BMW Group since April 2018.
Boehm will report directly to Gerald Holzmann, the global head of BMW Group Financial Services in Munich.
“Birgit brings a wealth of global experience, a familiarity with the U.S. market, and a long track record of success to her new role,” said Holzmann. “Under her guidance and leadership, I have no doubt that BMW Group Financial Services in the region will continue to be an asset not only to the national sales companies, but most importantly to our customers as well."
Boehm joined the BMW Group in April 2018 after 26 years working in various finance functions across the automotive industry in Europe and the U.S. After completing her bachelor’s degree in business administration in Münster (Germany) and Madrid (Spain), she graduated from Stanford University with a master’s degree in management.
Stefan Richmann will return to BMW Group headquarters in Munich after more than five years in the U.S. to take on a new role as senior vice president of corporate strategy. Prior to his role as the CEO of BMW Group Financial Services, Richmann was the executive vice president and chief financial officer of BMW of North America.
BMW Financial Services NA, LLC
BMW Group Financial Services was established in the U.S. in 1992 to support the sales and marketing of BMW products. Since then, the Group has expanded to provide service to markets in multiple countries and continues to evolve beyond its role as a captive finance unit. BMW Group Financial Services offers a wide range of leasing, retail and commercial financing and banking products tailored to meet the needs of the BMW customer. The Group also provides financing to BMW dealers for expanding dealership capabilities and enhancing overall operations. With more than $45 billion in serviced assets and 1,300,000 automotive lending customers across the U.S., BMW Group Financial Services finances more than three-quarters of the BMWs sold or leased in North America. BMW Group Financial Services employs more than 1,000 people, including consultants and service providers, many of whom are located in the Hilliard, Ohio, which serves the U.S.A., Brazilian, Canadian and Mexican markets through its Regional Service Center.
In 2001, the MINI Financial Services division was established to provide support for the brand’s dealers and its customers by offering financing and leasing options and branded financial services products.
BMW Group in the United States.
BMW of North America, LLC was established 50 years ago to support the sales, marketing and distribution of BMW automobiles in the U.S. BMW Motorrad was brought into the fold in 1980. In 1993 BMW Group Financial Services NA, LLC was founded, and one year later BMW Manufacturing Co., LLC began assembling vehicles in South Carolina. In 2002 and 2003, BMW Group established MINI USA, and Rolls-Royce Motor Cars NA, LLC relaunching two iconic brands and rounding out its product portfolio.
Today, the BMW Group has a nationwide corporate footprint in the U.S. which consists of nearly 30 locations in 12 different states. Beyond the National Sales Company and Financial Services headquarters in Woodcliff Lake, NJ, its manufacturing plant in Spartanburg, South Carolina, and numerous other operational facilities, BMW Group in the U.S. also includes Designworks, a strategic design consultancy in Santa Monica, CA, BMW Group Technology Office USA, a technology research and development center in Silicon Valley, and BMW i Ventures, a venture capital fund, also in Silicon Valley.
BMW Group Plant Spartanburg is the largest single BMW production facility in the world, and the global center of competence for BMW Sports Activity Vehicles including the X3, X4, X5, X6, X7, and XM. The plant assembles more than 1,500 vehicles each day, and up to 450,000 annually. Since 1994, Plant Spartanburg has assembled nearly 7 million BMW vehicles in the U.S.
The BMW Group sales organization in the U.S. is represented through a network of 350 BMW retailers, 144 BMW motorcycle retailers, 105 MINI passenger car dealers, and 38 Rolls-Royce Motor Car dealers. The company’s activities provide and support over 120,000 jobs across the U.S. and contribute more than 43.3 billion to the U.S. economy annually.
Journalist note: Information about BMW Group and its products in the USA is available to journalists on-line at www.bmwusanews.com www.miniusanews.com and www.press.bmwna.com