Asia Real Estate People in the News 2023-03-27
Top level moves at European and Asian fund managers lead this week’s list of personnel changes from around Asia Pacific with a Gaw Capital veteran taking on a new role with a CITIC affiliate, DWS naming new regional leadership and Mapletree Industrial Trust adding a top executive from a regional sovereign fund to its board.
Johnny Lu Shao has taken on a new role as a managing director with CPE Funds Management in Shanghai, where he will be responsible for infrastructure and new economy real estate investment for the firm, Mingtiandi has learned. Shao took on his new role with the onshore private equity division of CITIC Group after just under five years at Gaw Capital Partners where he served most recently as a managing director leading the company’s investment team in mainland China. During his time at Gaw, Shao led both direct real estate investment and the development of platforms such as the company’s data centre, logistics and life sciences ventures. The nearly 20-year industry veteran also has previous experience with JLL and CBRE.
DWS announced on 23 March that Vanessa Wang has been appointed as head of Asia Pacific with effect from 1 April, as outgoing chief Holger Naumann heads back to Frankfurt as part of what the company called a planned retirement. Based in Hong Kong, Wang is taking on the top job at the investment management division of Deutsche Bank in addition to her current responsibilities as head of client coverage for the region, after first joining the firm in 2021 from Amundi.
Mapletree Industrial Trust announced on 21 March that Noorsurainah Tengah has been appointed as an independent, non-executive director of the trust’s manager with effect from 1 April. Tengah joins the board of the SGX-listed REIT in addition to her duties as executive manager and head of alternative investments and head of listed assets at the Brunei Investment Agency, which serves as the sovereign wealth fund of the government of Brunei.
Ramesh Nair has resigned as chief executive of Colliers India, according to local news reports, leaving the property consultancy less than two years after joining from rival JLL. An account in India’s Economic Times said that Nair had resigned on 17 March to pursue outside opportunities. The veteran property consultant spent more than two decades at JLL including serving chief executive and country head for the company before signing up with Colliers in 2021. Nair continues to show his Colliers position as his current job title on LinkedIn.
Vietnamese property developer Novaland said on 17 March that it has appointed Malaysian national Dennis Ng Teck Yeow as its new chief executive as part of a restructuring of the financially stressed builder. Novaland said this past week that it has struck a deal with existing investors to extend the maturity of some of its existing bonds and raise more than $1 billion in fresh capital through an issue of new shares. Ng, who formerly served as CEO of Gamuda Land in Vietnam, is replacing outgoing Novaland head Nguyen Ngoc Huyen.
Kai Huang has been promoted to director for investments with IP Investment Management in Hong Kong, according to a LinkedIn update. Huang received his upgrade recently after more than five years as an associate director at IP, where he has overseen business development, corporate development, investment underwriting and other functions on behalf of the firm. Huang also has previous experience with China’s CreditEase and Singapore’s Mapletree Investments.
JLL said on 24 March that it has appointed Kevin Hou as managing director of JLL Taiwan as Tony Chao shifts into an executive chairman role. Currently senior director and head of strategic consulting for JLL in Taiwan, Hou will take on his new title from 1 April and is expected to lead business development at the company after first joining JLL in 1999. He has led the firm’s consulting unit in the country since 2012.
Hellen Wu has joined mainland developer Greentown China as director of customer research, based in Guangzhou, according to a LinkedIn update. Wu joined the state-backed builder recently after more than two years as deputy director of customer and market research with competitor Jinke Real Estate Group, and also has previous experience with developers KWG Holding and China Vanke, as well as with Cushman & Wakefield.
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.