Aberdeen appoints new CEO in Thailand

- Group

Aberdeen Asset Management Company Limited (‘Aberdeen’) has appointed Korawut Leenabanchong as chief executive officer. He joins on July 1st from UOB Asset Management in Thailand where for the past ten years he was chief investment officer.

Aged 48, Khun Korawut brings more than two decades of industry experience, not only as an analyst and investor but as an experienced team manager with a strong performance record.

He also has wide knowledge of the investment industry and clients as well as experience working under a foreign-owned asset manager. He previously held posts at Tisco Asset Management and Dresdner Kleinwort in Bangkok.

In his new role at Aberdeen he will be responsible for shaping the company’s strategy, with a focus on new business development. To this end he will work closely with Adithep Vanabriksha, chief investment officer, and other functional heads. He will report to Ian Macdonald, director in Singapore.

Aberdeen has had a presence in Thailand for over a dozen years, the past nine as a wholly-owned company. It is the leading manager of foreign investment funds (FIF) in the country by number of funds.

The company has been enjoying good growth in AUM thanks to the rising Thai equity market, net inflows from bank channels as well as private investors, plus good performance across its core Thai equity funds. At present it is ranked 13 in terms of mutual fund AUM according to Association of Investment Management Company (as of June 13, 2014). It has been named ‘Outstanding Asset Management from SET Awards for the past three years.

Adithep Vanabriksha, CIO, comments:
“We welcome Khun Korawut’s decision to join Aberdeen. He has a very similar investment philosophy to our own, understands our culture and is a good personal friend. His knowledge and experience will be a great asset as we seek to expand our presence in both retail and institutional channels.”

Hugh Young, Aberdeen Asset Management Asia’s managing director in Singapore, adds:
“Khun Korawut’ s appointment signals our confidence in the Thai market, where we see exciting potential especially in the distribution of mutual funds via local retail banks, and in provident funds as more companies outsource their pension arrangements. His leadership will be vital as we embark on this next expected phase of growth.”

For further information, please contact:

Cammy Loh, Aberdeen Asset Management
Tel: +65 6395 2475 or cammy.loh@aberdeen-asset.com

Lydia Lee, Aberdeen Asset Management
Tel: +65 6395 2471 or lydia.lee@aberdeen-asset.com