Markus Deusing has been named as the new CEO of leasing company Alphabet International.

He has replaced Marco Lessacher, who has been appointed as BMW Group Financial Services vice president for customer, brand and sales.

Deusing began working at BMW Group in 2005 and has held various management roles since then, including most recently as Alphabet International CCO.

He said: “I am really looking forward to my new role. The industry is currently in a major change process – and change is an essential part of Alphabet’s DNA – which makes it even more exciting. 

“With a strong team and a clear strategy, we help our customers build a better future of mobility.”