Monday, Jul. 09, 2007, 08:00 PM UPDATED 11:59 AMBy Nick Zulovich
FARMINGTON HILLS, Mich. — Once the Chrysler Financial sale is complete in the third quarter, DaimlerChrysler Financial Services Americas said the corporate staff supporting its Mercedes-Benz Financial and Truck Financial business units will move to a new location in Farmington Hills, Mich.
The assets of Chrysler and Chrysler Financial are slated to transfer to Cerberus Capital Management.
Klaus Entenmann, president and chief executive officer of DaimlerChrysler Financial, said about 400 employees will be move to an existing four-story office building at 36455 Corporate Drive, along 12 Mile Road between Drake and Halsted roads. The company said it will be the sole tenant of the 153,000-square-foot building, which can house up to 650 employees.
About 800 employees of Chrysler Financial will remain in the company's present location at 27777 Inkster Road, Farmington Hills, which can accommodate up to 1,200 people, according to the company.
Chrysler Financial will continue to operate its eight business centers in major markets throughout the United States, as well as its four customer service locations.
"The professionalism and passion of our people sets us apart from our competitors in automotive and trucking industry financial services," Entenmann explained. "This move, a few miles away from our present headquarters, reinforces our commitment to Metro Detroit and keeps our headquarters for the entire Americas region right here in Michigan."
Entenmann said the transfer of assets from Chrysler Financial to Cerberus is creating the need for more jobs in the financial services industry, which will ultimately result in a positive impact on the economy of southeast Michigan.
"The transfer of Chrysler Financial's assets will result in the creation of two separate financial services companies that previously existed as one company," he said. "Of the estimated 200 new jobs the transfer will create throughout the entire Americas region, about 100 of those jobs will be right here in Oakland County, Michigan."
The new location in Farmington Hills will house the corporate staffs supporting Mercedes-Benz Financial and DaimlerChrysler Truck Financial, including finance, controlling, risk management, audit, communications, human resources, information technology, legal and other departments.
Mercedes-Benz Financial will continue to operate its business centers in New Jersey and California, and its customer and remarketing operations in Dallas, executives reported.
The Truck Financial business unit will continue to maintain its executive offices and sales, operations and customer service activities in suburban Chicago in Lisle, Ill.
Michigan Gov. Jennifer Granholm applauded the decision by DaimlerChrysler Financial Services Americas to keep its corporate headquarters in Michigan.
"This decision by DaimlerChrysler Financial Services — an international company doing business in 40 countries — to keep its Americas headquarters in Michigan is a signal that our work to implement an aggressive economic plan is encouraging businesses to choose Michigan for their growth," Granholm said.
"This move is creating good jobs for our workers and securing DaimlerChrysler's presence in Southeast Michigan for years to come," she added.
Oakland County executive L. Brooks Patterson echoed the governor's sentiments.
"DaimlerChrysler Financial Services's decision to stay here recognizes the fact that Oakland County has a highly educated and skilled, world-class workforce and world-class facilities, which serve as magnets for other global companies looking for an ideal location to pursue opportunities for business success," he said.
The company will receive a $500,000 grant from the Michigan Economic Development Corp. to use for training programs for its employees. The Birmingham, Mich., architectural firm Landry + Newman is designing the interior of the new headquarters. It previously designed the interior of the present headquarters, the former home of Michigan National Bank.