Press release 05.10.2005

Jürgen Baltes Appointed to Management Board of GFKL Financial Services AG

Jürgen Baltes, chairman of the board of ABIT AG, has been appointed with immediate effect to the management board of GFKL Financial Services AG by the supervisory board of GFKL Financial Services AG. As a member of the GFKL management board, Jürgen Baltes assumes the responsibility for the “Financial Outsourcing II, Software and Consulting“ business division, which includes Sirius Inkasso GmbH and today’s ABIT Group. Following formal registration of the merger of ABIT to GFKL, this division will encompass the future ABIT AG, which will have been spun off as a GFKL subsidiary, as well as the collection business in the non-banking segment with the companies Sirius Inkasso GmbH and Domnowski Debitorenmanagement GmbH. Jürgen Baltes is also responsible for GFKL Group’s human resources and cost management.

Jürgen Baltes will continue to exercise his mandate as chairman of the board of ABIT AG until such time as the merger approved in June by the annual shareholders’ meetings of ABIT AG and GFKL Financial Service AG has been formally registered.

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GFKL Financial Services AG Information:
Founded in 1992, GFKL Financial Services AG is a leasing and financial outsourcing corporation operating a nation-wide network of branches in Germany. The core competencies of the Group encompass financing of investment assets as well as the assessment, acquisition and administration of receivables portfolios. As a holding company, GFKL Financial Services AG provides centralized services for several operational subsidiaries. These corporations offer a spectrum of services that covers the entire value chain in the financing of mobile investment assets:

  • Closing of in-house leasing, rental and finance-purchase agreements
  • Administration of credit and leasing portfolios
  • Refinancing of leasing companies
  • Securitizing and sale of mobile investment assets
  • Business software, services and consulting for a complete range of receivables collections models


Some of the key shareholders of GFKL Financial Services AG are subsidiaries of ABN AMRO Bank, Goldman Sachs Group, Inc. and ERGO Versicherungsgruppe AG as well as the Westdeutsche Landesbank AG. The staff functions of the group of companies are consolidated at GFKL Financial Services AG as the conglomerate´s holding corporation.

GFKL Group employs about 660 staff members who produced Group revenues of EUR 539.5 million in 2004 and after tax Group earnings of EUR 14.1 million. In the past fiscal year, profits on shareholder equity came in at 18.5 percent.

GFKL Financial Services AG
Corporate Communications
Sven Kamerar
Limbecker Platz 1
D-45127 Essen

Phone: +49 (0201) 102-1192
E-Mail: pr(at)gfkl.com

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