GERMANY - Peter Scherkampf, the respected managing director of Munich based Siemens Financial Services Investment Management (SKAG) leaves his current position today (April 26) in a transfer that will see him head up the financial strategy department for the whole Siemens group.

Scherkampf has been managing director at SKAG since November 1998.

Siemens says it has yet to decide how Scherkampf will be replaced in his capacity at the financial services arm.