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Siemens $25 Billion Homegrown Bank Helps Promote New Technology

SiemensChief Executive Officer Joe Kaeser is leaning on the manufacturer’s 19 billion-euro ($25 billion) financial services division as a tool to help fund nascent technologies and promote them with customers.

Siemens Financial Services, which has grown from leasing Siemens’s trains and medical scanners to investing more heavily in infrastructure and energy projects, is now promoting the energy assets that Siemens bought for $1.3 billion from Rolls-Royce Holdings Plc (RR/) in May. The technology has applications in solar and wind plants, an area where SFS helps clients fund investments, unit head Roland Chalons-Browne said.

http://www.bloomberg.com/news/2014-08-03/siemens-25-billion-homegrown-bank-helps-promote-new-technology.html