Scottish Investment Operations (SIO) has appointed Standard Life Aberdeen’s Denise Thomas as its new chair to succeed Pauline Burns who has held the position since 2017.

SIO, led by CEO Raymond Wales, focuses on the operational support for fund management, asset servicing and investment banking companies based in Scotland.

Created in 2001, its membership consists of global organisations managing an estimated £6,000 billion of customer assets and employing over 5,000 people in Scotland.

Its agenda is aligned with the strategic aims of other bodies representing Scottish business such as Scottish Financial Enterprise and FinTech Scotland. 

Thomas is Commercial & Client Operations Director at Standard Life Aberdeen (SLA) where she is responsible for client operations, the oversight and governance of third-party administrators, estate management, global supplier management, derivatives controls and client money.

Thomas has been a board director of SIO since 2018.

Prior to joining SLA in 1999 she worked for Ernst & Young, East of Scotland Water and Scottish Power.

Raymond Wales, Chief Executive of SIO, said: “Denise has been an outstanding member of our board for the last two years and I am delighted that she has accepted the role of chair.

“It has been a year of significant and unique challenge across all of our membership.

“Through active and collective participation, we have discussed our common issues in confidence and worked together to implement best solutions and practices.

“The sessions we have organised in 2020 have increased 5-fold and have had record participation.

“Scotland’s financial services has a great global reputation but this year, more than ever before, our great strength has been our unity.

“Together with the rest of the board, Denise has been a passionate driver of that collaboration.

“I’d also like to thank Pauline for her insight and drive to get SIO to where it is today.”