Bangkok--9 Feb--Aberdeen Asset Management
Aberdeen Asset Management Asia Limited (AAMAL) has recruited Peter Taylor, an expert in corporate governance, to its Singapore-based Asian equities team. It has also relocated investment manager, Nick Yeo, to Hong Kong from Singapore.
Taylor’s appointment is a natural progression given Aberdeen’s stock-picking style. The company has put more emphasis in recent years on corporate governance as a screen for new investments; it also talks regularly with management of its existing holdings as part of its ongoing due diligence, and is proactive in voting shares.
Taylor will work alongside the 27-strong regional equity investment team, headquartered in Singapore, and spearhead Aberdeen’s engagement with company boards in the region. Previously he spent seven years with the International Finance Corporation, the private sector investment arm of the World Bank, first in Washington and more recently in Hong Kong.
Given Aberdeen’s fundamental investment approach, and the huge growth in the number of Chinese companies that have come to market, Yeo will shortly transfer to Hong Kong to oversee research into greater China equities. A Chinese speaker, Yeo will cover Aberdeen’s existing Chinese and Hong Kong holdings as well as further explore the investment opportunities available in China’s local A share market. In due course, he will set up a dedicated China team.
Yeo joined AAMAL in 2000 and was seconded to the London GEM team for two years where he covered EMEA and Latin American companies. He returned to the Asian equity team in Singapore in 2004.
Hugh Young, managing director of AAMAL, commented:
“Good corporate governance is a key factor for Aberdeen when deciding whether to invest in a company. Over the years we’ve encouraged companies to meet corporate governance guidelines through regularly meeting with management and via our membership of the Asia Corporate Governance Association. Corporate governance has dramatically improved since we started investing in Asia over 20 years ago, but there is still room for improvement. With his wealth of experience in the field, Peter will help us engage further with companies and question their commitment to good corporate governance.
“Nick’s move to Hong Kong emphasises how important it is to us to be located where we can access company management easily. The rapid growth in size of mainland stock markets, underlined recently by the IPOs of state champions, onshore and in Hong Kong, makes us keenly aware of the opportunities — and pitfalls — of investing here. As a local language speaker with a vast amount of experience of analysing Asian companies, Nick is well qualified to intensify our research into Chinese stocks.”
Note to editors:
About Aberdeen Asset Management Asia
Aberdeen Asset Management Asia is the Singapore-based Asia Pacific headquarters of the Aberdeen Group, an independent specialist asset management company listed on the London Stock Exchange. Set up in 1992, AAMAL manages a total US$34bn of the Group’s US$148bn under management*. The Group also has regional offices in Bangkok, Hong Kong, Kuala Lumpur, Sydney and Tokyo. Clients are mainly institutions such as central banks, public and corporate pension schemes and private banks around the world, investing through segregated and pooled funds. The Group has a staff of over 200 across the region, including 37 investment managers.
*as at end Dec 2006
For more information please contact:
In Singapore
Aberdeen Asset Management Asia
Patrick Corfe
Tel:+65 6395 2620
Email: [email protected]
Lydia Lee
Tel: +65 6395 2471
Email: [email protected]
In Thailand
Aberdeen Asset Management Co.,Ltd
Nontakorn Kijthanapaisan
Tel: 0-2352-3332
[email protected]
Vorachat Bunthuwong
Tel: 0-2352-3383
[email protected]