Schroders has named Lily Choh as the new CEO of its Singapore business to accelerate its business growth in Singapore, Malaysia, and Thailand.

Choh will be in charge of executing the company’s growth strategy in the Southeast Asian region. She will also oversee the management of the Singapore office and over 450 employees.

Last April, Schroder appointed Choh as deputy CEO of the Singapore unit. She was also named director on the board of Schroders Singapore (SIMSL) in addition to her role as head of Institutional, Asia-Pacific (APAC).

The company said that Choh will transition out of her dual role as head of Institutional, APAC, by the end of the year to focus on her new responsibilities.

Lily succeeds Susan Soh, who has led Singapore unit for the past 14 years as its CEO.

Soh will now focus exclusively on her role as co-CEO of Asia Pacific alongside Chris Durack. Additionally, she will continue to be a director of SIMSL.

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Commenting on the development, Soh said: “With a rapidly increasing middle class, the Southeast Asia region provides opportunities for us to engage with the growing wealth with our innovative wealth management solutions to cater to the preferences of the local investors.

“I am confident that Lily, who has been working closely with me over the last few years, is well placed to take our business to the next stage of growth. We look forward to this new chapter for Schroders Singapore under Lily’s leadership.”

Head of Distribution, APAC

Schroders has also appointed Schroders Hong Kong CEO Amy Cho to the newly created role of head of distribution, APAC.

Cho will lead distribution across both Intermediary and Institutional channels. She will work together with Soh and Durack to implement a cohesive distribution strategy across the APAC region.

In addition to her new responsibilities, Cho will also continue to oversee the Hong Kong unit.

Durack said: “Schroders remains committed to its ambitious growth plans across the APAC region, and Amy’s appointment is key to driving our strategic distribution priorities in the region and creating greater synergies across our business channels.”