Aberdeen poaches Korawut Leenabanchong from UOB to head up Thailand
26 June 2014
Category: News, Asia, Singapore, Thailand
By David Macfarlane
Korawut Leenabanchong will join Aberdeen Asset Management Company Limited as chief executive officer for Thailand on July 1. He moves to the firm from UOB Asset Management in Thailand where he was chief investment officer for the last ten years.
Hugh Young, Aberdeen Asset Management Asia’s managing director in Singapore, said: “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.”
Forty-eight-year-old Mr. Leenabanchong will be responsible for shaping the company’s strategy, with a focus on new business development. He will work closely with Adithep Vanabriksha, chief investment officer, and other functional heads, and will report to Ian Macdonald, director in Singapore. Mr. Leenabanchong 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.
CIO Mr. Vanabriksha welcomed Mr. Leenabanchong’s decision to join the company, saying: “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.”
Aberdeen is an independent asset management company which was formed out of a management buy-out in Aberdeen, Scotland, in 1983. As of May 2014, it was managing assets of US$548.69 billion on behalf of institutional and private investors. The company 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 in the country by number of funds.