Wolfgang Lotze was named head of investment management for Siemens AG, Munich. He will be responsible for the companys money management unit, its pensions management advisory division and Innovest Financial Services. Innovest is the money manager for the 513 million euro ($466 million) Siemens Pensionskasse AG, Vienna, and also manages assets for third-party clients. The manager of managers has 2 billion euros in assets under management.
Innovest was incorporated last month into the Siemens Groups investment management arm, said Mr. Lotze.
Mr. Lotze was head of pensions management advisory and he replaces Peter Scherkamp, who was named Siemens group manager of corporate finance in May.