A senior appointment by one of China’s crew of defaulting privately-controlled developers leads this week’s roundup of personnel moves on Mingtiandi, as Shimao Group gives additional responsibilities to one of its long-term leaders. KKR is also making some changes as its head of Greater China heads for a Hong Kong exit with a mainland-based replacement reportedly on the way. There are also fresh appointments at UOL’s Singapore Land unit, JLL and PAG-backed Unispace.
Shimao Group Holdings has promoted Lu Yi to the role of executive president, effective from 23 June, according to an announcement to the Hong Kong exchange this past week. Having joined the debt-wracked developer’s board as an executive director in 2020, Lu, now 38, has been with Shimao since 2008. In his most recent role, the graduate of Zhejiang University led Shimao’s operations in Fujian, Guangdong and Hainan provinces, which account for the largest share of the company’s business.
Paul Yang, head of Greater China for KKR is set to shift to an advisor role with the private equity giant, according to a Reuters report. Having joined KKR in Hong Kong in January 2017, Yang is said to be stepping down for personal reasons, effective from 1 July. With KKR having 35 investment professionals in Beijing and Shanghai, Yang’s replacement is expected to be based in mainland China, according to the media account. KKR has yet to comment publicly on the change.
Defaulting mainland developer Yuzhou Group Holdings informed the Hong Kong exchange late Friday that Lam Lung On has resigned as chairman, chief executive and executive director of the company with immediate effect. Lam has subsequently taken on a non-executive seat on Yuzhou’s board. In the same announcement, the Hong Kong-listed developer, which defaulted on interest obligations on $500 million in bonds during March, said that Lam’s wife, Kwok Ying Lan, currently 51 and an executive director of the company, has been promoted to chairman and chief executive, while also taking on other board roles formerly held by her husband.
Singapore Land Group has given chief executive Jonathan Eu Zai Jie a seat as an executive and non-independent director on its board from 1 July, according to a bourse announcement this past week. Appointed to the CEO role in September of last year, Eu, now 40, is a grandson of Singapore Land chairman Wee Cho Yaw and a nephew of director Wee Ee Lim. SGX-listed Singapore Land is a subsidiary of local development giant UOL.
On the same day that it named Eu as an executive director, Singapore Land in a separate announcement said that it has added former Knight Frank executive Tan Tiong Cheng to its board as an independent, non-executive director. Set to join the board on 1 July, Tan, now 71, was president of Knight Frank Singapore until March 2019, when he shifted to a senior advisor role until retiring in April 2020. Tan currently serves as an independent director with Straits Trading Company Ltd, and previously has held seats on the board of Amara Holdings, Heeton Holdings and UOL Group.
JLL announced this past week that it has appointed Kian-Jin Khoo to the newly created position of head of private wealth with its capital markets division for Asia Pacific. Based in Singapore, Khoo is set to lead the company’s advisory services to high net worth and family office clients in the region aiming to invest in real estate opportunities both in the city-state and globally. Having spent nearly the past five years as chief executive and chief investment officer with a local family office in Singapore, Khoo also served 12 years with UBS Wealth Management.
PAG-backed project management firm Unispace has appointed Amanda Tham as its new chief financial officer based in Singapore and London, according to a company statement this past week. Having completed its buyout of Australia-based Unispace over one year ago, PAG has been rapidly expanding the fit-out specialist and hired Tham away from running her own advisory firm, Narus Consulting to take on the CFO role. Previously Tham has served as group CFO with DirectAsia Insurance and had also held executive positions with State Street and GE Sensing and Inspection Technologies.
Mapletree has promoted Pham Huong to vice president with its investment and asset management division based in Vietnam, according to a LinkedIn update. Pham received her promotion with the Temasek Holdings-owned real estate investment manager this month after joining Mapletree as a senior associate director. Pham also has previous experience with Sunshine Group, Hongkong Land and Savills.
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.
Leave a Reply