Aberdeen's new head of Aussie equities
Aberdeen Asset Management has announced a restructure of its Australian Equities with Robert Penaloza to take over as head of the team on 1 July 2011, replacing Mark Daniels.
Daniels will remain on the team as investment director after relinquishing the responsibilities of heading the team to focus more on investment management, Aberdeen stated.
Aberdeen managing director Brett Jollie said the change in roles would allow Aberdeen to align the current and future needs of its Australian Equities business with the experience, skills and aspirations of its two most senior members.
“Rob is well positioned to take on the challenges of this role and is very enthusiastic about the additional responsibilities involved,” Jollie said.
Penaloza has previously held a number of senior positions at Aberdeen including senior investment manager in the Asian equities team in Singapore, and was also a former chief executive and head of Aberdeen’s Thai investment desk, Aberdeen stated.
Standard & Poor’s Fund Services announced its ratings on the Aberdeen Financials and Aberdeen Australian Equities funds remain unchanged following the restructure, describing Penaloza as experienced and capable.
Both funds are currently being reviewed as part of S&P’s Australian Equity sector review, S&P stated.
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