Penelope Foley is group managing director for emerging markets at TCW. Before joining TCW in 1990, she was a senior vice president of Drexel Burnham Lambert, where she was involved in the management of DBL Americas Development Association L.P. and in providing investment and merchant banking services in Latin America. Before Drexel, Foley was a vice president in Citicorp's Investment Bank and was responsible for euro securities, project finance and private placements in Latin America and Canada. Previously, she was an associate in the corporate finance department at Lehman Brothers. Foley attended Northwestern University and holds a B.A. from Hollins College.