Singapore’s largest non-state-backed developer leads this week’s set of staffing changes from around Asia’s real estate industry as the company names a new CIO. Also making the list is CapitaLand Investment, which has appointed new leadership for its Korea data centre unit and a pair of troubled mainland property firms have unveiled board-level departures.
City Developments Ltd has promoted Gerald Yong to chief investment officer, according to a LinkedIn update. Yong, who has now been with the Singapore developer since 2007, moved up to the group-wide role after previously serving as principal staff officer and head of business development and investments. CDL group chief investment officer, Frank Khoo had left the company in September of last year.
CapitaLand Investment said on 1 June that it has appointed Jay Weon Khym as general manager of its data centre business in South Korea as of that day. Before joining CapitaLand Investment, the graduate of Korea University and Yonsei University had served as head of Digital Realty Korea where he was involved in the operation of its first purpose-built data centre and investment of its second hyperscale project in the country.
KWG Living Group Holding said on 2 June that its chief executive officer, Kong Jiannan had stepped down with effect from that day due to internal work adjustment. Kong, who continues to serve as an executive director of KWG Living Group Holding’s parent firm, KWG Group Holding, is the older brother of KWG Group chairman Kong Jian Min as well as of the group’s CEO, Kong Jian Tao.
China Oceanwide Holdings announced to the Hong Kong stock exchange on 2 June that its executive director, Liu Bing had resigned from his role with the company with effect from that day. Now 66 years old, Liu had been an executive director of Oceanwide since 2014 and had resigned from his position as an executive director of the company’s China Tonghai International Financial unit last month.
Keppel Infrastructure Fund Management, the manager of Keppel Infrastructure Trust, said on 31 May that it was appointing Ng Kin Sze as an independent director on the board of the manager with effect from 1 June. Ng, who spent more than 26 years at Singapore sovereign wealth fund GIC also joined the trust’s ESG and investment committees. Ng had retired from GIC in 2013 after holding senior roles overseeing investment, strategy, portfolio management and risk management with the institution.
Mainland asset manager Hillhouse Capital Management has hired Deutsche Bank veteran Siddhartha Hari in Singapore, according to a report by Bloomberg. Hari, who oversaw lending and private credit for Deutsche Bank in northern Asia and the Pacific since 2017 is joining the firm this month as co-head of private credit, according to the report. Hillhouse has been expanding its footprint in Singapore and just last week was named by the city-state’s Economic Development Board as eligible to advise wealthy foreigners seeking permanent residency in the country under its investor visa programme.
Stanley X Chen has joined China Broad Group in Changsha as a general manager with the prefabricated construction specialist, according to a LinkedIn update. Chen joins the company famed for building a 57-storey skyscraper in under a month after more than seven years with China Fortune Land Development (CFLD) in Beijing where he most recently led the firm’s debt restructuring efforts following a series of defaults.
Colliers announced on 29 May that it has hired Joel Chong as a director based in its Singapore office tasked with leading consulting assignments for corporate occupiers while pursuing new business relationships and “brand awareness.” Chong joins the property consultancy after nine months as a senior director with WeWork where he was a senior director handling global key accounts. He also has experience in corporate real estate roles with AXA and Manulife.
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