Reynaerts to head BMW FS Belgium
Christel Reynaerts (pictured) has been appointed as the new CEO of BMW Financial Services (BMW FS) in Belgium. She will take up the role on 1 January 2022. Until then, she will remain in her current position as CEO of Alphabet in the Netherlands. In her new role, Ms Reynaerts will succeed Irek Nogalski, who will move to become CEO of BMW Financial Services in the Czech Republic.
Ms Reynaerts spent seven years with Arval before starting with BMW Group in 2005, and has since held several key executive positions within the group, including as General Manager for International Sales and Key Account Management at Alphabet International, Head of Commercial Finance at BMW Financial Service, and Head of International Corporate Sales at BMW Group. She has been CEO of Alphabet Netherlands since 2017.
Background for the personnel changes is the merger between the Dutch subsidiaries of Alphabet and BMW Financial Services. The new company will be called BMW Financial Services Nederland, but the separate brands will continue to exist. The merger will bring together the knowledge and expertise of both companies, and will give customers easy access to a broad range of mobility solutions, the companies have said.
Asked whether this merger foreshadowed similar moves on the wider European stage, BMW Group replied that “shared services and collaboration (between national subsidiaries of BMW FS and Alphabet, Ed.) already exist to varying extents in different markets and continue to evolve where it makes sense. The Netherlands and UK markets have each announced their intended steps to increase collaboration but changes in other markets are not determined at this time.”
Succeeding Ms Reynaerts as CEO of Alphabet Nederland and eventually of the merged company will be Nick Brownrigg, currently CEO of Alphabet UK. His CFO will be Jan-Christian Klages, at present still Head of Strategy at BMW Group Mobility Services.