Mercedes-Benz Financial Services Korea announced Thursday that Thomas Waggershauser, an automotive finance expert, has been appointed as its new CEO.

The new Korea chief is an industry veteran with a career spanning 20 years at Mercedes-Benz Mobility, the financial service company affiliated with Mercedes-Benz Group.

Prior to his appointment, he served as the head of overseas and Greater China market management at Mercedes-Benz Mobility in Stuttgart, Germany, where Mercedes-Benz is headquartered.

Waggershauser began his career as a leasing and finance consultant for DaimlerChrysler Bank in 2004. He then rose as the leader of product management for the passenger car and commercial vehicle business at Mercedes-Benz Bank starting in 2007. Subsequently, he served as the head of sales and marketing at Mercedes-Benz Financial Services Spain for six years, starting from 2014. Since 2020, he has been responsible for overseeing sales and marketing in the Asia-Pacific region at Mercedes-Benz Mobility.

“Korea holds significant importance for Mercedes-Benz, which brings a considerable responsibility. Going forward, I am committed to listening to our customers and delivering best-in-class financing and leasing solutions to enhance the Mercedes-Benz experience in Korea,” said Waggershauser.

Established in 2002, Mercedes-Benz Financial Services Korea operates as an affiliate of Mercedes-Benz Mobility. It primarily offers a variety of financial services and lease products related to automobiles for domestic customers.