CapitaLand Investment Shifts Tan to Commercial REIT, Hires Yong to Lead Malaysia Trust

Singapore’s CapitaLand Investment is moving the boss of its Malaysia REIT, Tan Choon Siang, to a new role as deputy CEO at CapitaLand Integrated Commercial Trust, effective 1 February.

Tan is to assist CICT CEO Tony Tan in managing all aspects of the trust’s business, Temasek-controlled CapitaLand Investment said in a release. Succeeding him at the helm of CapitaLand Malaysia Trust is former Lendlease executive Yong Su-Lin, also at the start of next month.

In addition, Bank of Singapore veteran Yvonne Siew has been appointed as managing director and head of product development and wealth markets on CapitaLand Investment’s private capital markets team, assuming the position on Wednesday of this week.

“As we continue to grow strong talent from within, we are also bringing in executives with extensive investment and fund management experience as well as deep market expertise,” said CapitaLand Investment CEO Lee Chee Koon. “These appointments will enhance our private and listed fund management capabilities, further strengthening CLI’s position as a leading global real asset manager.”

Bolstered Bench

Tan has served as CEO of CapitaLand Malaysia REIT’s manager since 2022. Previous roles included chief financial officer at Ascendas India Trust (now CapitaLand India Trust) and head of corporate finance and treasury at Ascendas-Singbridge.

Tan earned bachelor’s and master’s degrees in economics from the Massachusetts Institute of Technology before holding various leadership roles at Genting Singapore and Goldman Sachs during his early career.

Yong joined Lendlease in 2022 and most recently served as managing director of Malaysia and China and interim chief financial officer for Asia at the Sydney-based developer.

A finance graduate of the University of Northern Iowa, Yong previously held the CEO post at Kuala Lumpur-listed Sentral REIT and sat as interim CEO of Quill Capita Trust.

Fundraising Muscle

In her new role at CapitaLand Investment, Siew will take responsibility for leading product development, client services and marketing communications for private funds and driving the growth of the private wealth business.

Before joining Bank of Singapore as head of real estate advisory and investments in 2019, Siew was executive director on the global capital markets team at CBRE Singapore and head of Asia real estate at Citi Private Bank.

Last month, CapitaLand Investment announced the appointment of Gerry Chan as CEO of CapitaLand China Trust’s manager, succeeding Tan Tze Wooi on 1 January. Also on the first of the year, Ervin Yeo assumed the role of CEO for commercial management at CapitaLand Investment, serving concurrently as the firm’s chief strategy officer.