Aberdeen Standard Investments (ASI) has named Robert Penaloza as the new head of its Thailand operations.
Penaloza will operate out of Bangkok, with responsibility for managing a 60-member team.
Penaloza’s tenure at the firm started 22 years ago as an Asian equities assistant investment manager in Singapore.
He held various roles since, including CIO and CEO for Aberdeen Thailand between 2001 and 2008.
Penaloza latterly led the firm’s Australian equities team, a role that will now be handed over to Michelle Lopez.
ASI deputy head of Asia Pacific Ian Macdonald said: “As the market continues to open up and opportunities are rising for global asset managers following recent regulatory relaxation, the time is right for us to devise a long-term strategy to capitalise on the growth potential.”
An employee of the firm for 15 years, Lopez most recently served as the deputy head of Australian equities.
She formerly worked at Willis Towers Watson. In the new role, she will report to head of Asia Pacific equities Flavia Cheong.
ASI Australia managing director Brett Jollie said: “Michelle has played a pivotal role in managing and driving the success of the team and is a natural and well-respected successor.
“This promotion is reflective of her commitment, knowledge and proven ability.”