A major leadership change at a troubled mainland developer leads this week’s review of personnel updates from around Asia Pacific, as China Aoyuan gets a new boss. Also in the news are senior-level moves at a Singapore-listed REIT and at one of the island nation’s largest banks.
China Aoyuan Group announced to the Hong Kong stock exchange on 20 September that its chairman, Guo Zi Wen is stepping down as the financially troubled company welcomes a Middle Eastern investor. From the date of the announcement, founder Guo has left his position as chairman and been redesignated from executive to non-executive director of the group. Mohamed Obaid Ghulam Badakkan Alobeidli, general manager of UAE-based Magnuvest Investment, has now been named chairman and non-executive director of Aoyuan, as Alobeidli’s company funnels new cash into the developer.
The manager of Fraser’s Logistics and Commercial Trust announced to the Singapore stock exchange on 17 September that Tricia Yeo Whay Teng is resigning from her role as chief financial officer of the SGX-listed REIT. Yeo is set to step down from her duties on 1 January to take a leave of absence for personal reasons, with the company indicating that it is currently recruiting a successor.
Overseas-Chinese Banking Corporation (OCBC) notified the SGX on 20 September that Lim Khiang Tong is resigning from his role as group chief operating officer with the financial services firm from 31 October. Now 62, Lim is said to be retiring after having held the Group COO position with OCBC since June 2021, with his responsibilities including operations, technology and property management, among other functions.
PGIM Real Estate announced on 16 September that it has appointed Richard Price as managing director and senior portfolio manager for international equity. Reporting to PGIM Real Estate co-CEO Raimondo Amabile, Price is expected to work together with the company’s portfolio management teams across Europe, Latin America and Asia Pacific. Price takes on his new role after serving most recently with BentallGreenOak where he was chief operating officer of the company’s capital raising and investor relations group.
Former CapitaLand executive Chris Chong has crossed over to the luxury world, with the Singapore-based executive now taking on an executive vice president role with LVMH Group, according to a LinkedIn update. In his new position, Chong covers South and Southeast Asia, in addition to Oceania, for the parent company of Louis Vuitton, Moet Hennessy and other European luxury brands.
Rob Hall has been appointed head of integrated portfolio management for Asia Pacific with the global occupier services team at Cushman & Wakefield, according to an announcement by the property consultancy earlier this month. Formerly based in Europe with C&W, Hall is now based in Hong Kong and took over leadership of the integrated facilities management unit earlier this month from Nick Seaton, who now leads the company’s asset management services globally on behalf of Standard Chartered.
James Lo has joined flexible office provider The Desk in Hong Kong as general manager, according to a LinkedIn update. Lo, who earlier spent three years as regional sales director for Hong Kong and Taiwan with WeWork, joins the local serviced office player after The Desk co-founder Thomas Hui transitioned earlier this month to a new role as co-founder and CEO of business consulting firm Xspacestrat, according to updates to his LinkedIn profile.
Former Savills executive Mayank Jain has joined India’s Kanodia Group as chief executive officer of the company’s luxury property development platform, Kreeva, based in Gurugram, according to an announcement by the company. Jain is leading the development platform after more than five years with Savills, where he had served most recently as director and head of capital markets for North India.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.
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