FARMINGTON HILLS, MI -- DaimlerChrysler Financial Services Americas today announced that the corporate staffs supporting its Mercedes-Benz Financial and Truck Financial business units will be moving to a new location in Farmington Hills, Mich., after the transfer of assets of its Chrysler Financial business unit to Cerberus Capital Management is completed in the third quarter.

Klaus Entenmann, president and CEO of DaimlerChrysler Financial Services Americas, said approximately 400 company employees will be moving to an existing four-story office building at 36455 Corporate Drive, along 12 mile road between Drake and Halsted roads. The company will be the sole tenant of the 153,000 square-foot building which can house up to 650 employees.

Approximately 800 employees of Chrysler Financial will remain in the company's present location at 27777 Inkster Road, Farmington Hills, which can accommodate up to 1200 people. Chrysler Financial will continue to operate its eight business centers in major markets across the United States as well as four customer service locations.

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 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 Contact and Remarketing operations in Dallas.

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.