BMW’s financing unit will have a new boss starting the first day of January, 2011. Erich Ebner von Eschenbach, 49, has just been chosen for the prestigious position. He will be replacing Georg Bauer, 59, as the CEO of BMW’s Financial Services.
The BMW Financial Services is responsible for processing and providing loans and leases to dealers and retail customers alike. Back in 2009, they reported a revenue of $19.5 billion.
Ebner von Eschenbach became head of BMW group treasury back in 2006. Once he takes the new position in 2011, he will be replaced by Norbert Mayer, 55, of BMW corporate finance.
Ebner von Eschenbach graduated from Munich’s Ludwig Maximilian University with a degree in business administration. He had previously worked for Munich IT specialist Softlab Group in charge of finances and administration. He also worked for Hypo Vereinsbank AG in New York as head of corporate finance, and Bayerische Vereinsbank AG in Munich.