The UK investment management company has handed an executive role to its CIO in a double board appointment.

Liverpool-based Seneca Investment Managers has promoted chief investment officer Peter Elston to executive director of its board.

Elston, who joined the company in 2014, will continue to serve as CIO. Before Seneca, he ran Aberdeen Asset Management’s Singapore-based multi-asset business.

In another board movement, Peter Smith has been appointed non-executive director. He is currently head of policy strategy development at the Tax Incentivised Savings Association (TISA), having previously served as national sales director for the platform and distribution division of Legal & General.

“Peter Smith’s knowledge of the long term savings industry is second to none, and his involvement will allow us to navigate the changing industry landscape with increased confidence,” said the company's chief executive, David Thomas.

“Peter Elston’s promotion is testament to our commitment to the distinctive and arguably unique 'multi-asset value investing' style we have adopted. I welcome them both to their new roles.”