Penrose will move from his previous role as sales director for Asia & Middle East following the internal promotion.
In the new role, he will oversee the distribution of MitonOptimal’s funds and discretionary management solutions across key markets.
Managing director and chief investment officer, Scott Campbell, said: “MitonOptimal has some really exciting plans in place to develop our range of funds and discretionary fund management solutions over the coming months.”
MitonOptimal provides a range of investment management solutions for financial advisers and fiduciary professionals. It has $900m in assets under management and over 50 staff across offices in Guernsey, the Isle of Man, Singapore and South Africa.