The death of David Simon, the man who built the world’s largest retail real estate company and planted its Premium Outlets banner across Japan, South Korea and Southeast Asia, leads Mingtiandi’s look at personnel moves from around the industry this week. Also making the list is the nomination of a new governor for South Korea’s central bank, a pair of senior departures at Australia’s Future Fund, and a new Americas-focused leadership role at JD.com’s real estate arm.
Simon Property Group has announced the passing of its chairman, chief executive and president, David Simon, on 22 March at the age of 64, according to a statement from the board of directors. Simon built the Indianapolis-based REIT into the largest retail property owner in the world, with Asia Pacific holdings including ten Premium Outlet centres in Japan with Mitsubishi Estate, four in South Korea with Shinsegae, and centres in Malaysia and Indonesia. The board has appointed his son Eli Simon as chief executive, with Larry Glasscock named non-executive chairman.
South Korea’s President Lee Jae-myung has nominated Shin Hyun-song as the next governor of the Bank of Korea, Bloomberg reported on 22 March. Shin, 66, has served since 2014 as economic adviser at the Bank for International Settlements — often called the central bank of central banks — and steps back from those duties immediately. He succeeds Rhee Chang-yong, whose term expires on 20 April, pending a parliamentary hearing. A former Princeton University professor known for hawkish views on financial stability, Shin’s approach to interest rates will be closely watched by South Korea’s debt-reliant real estate industry.
Australia’s Future Fund is losing two of its most senior private markets leaders, with David Bluff and Tammi Fisher set to depart the A$267 billion ($190 billion) sovereign wealth fund at the end of this month, according to a Bloomberg report. The pair have served as co-managing directors of real assets at the Melbourne-based fund, sharing oversight of its real estate, infrastructure, credit, private equity and energy transition portfolios. Their departures add to a string of senior exits at the fund in recent months and leave a significant leadership gap in its private markets operation.
OpenAI has recruited Kiran Mani, chief executive of Indian streaming platform JioStar, to lead its Asia Pacific operations in a newly created role, Bloomberg reported on 25 March. Mani will take up the managing director position in June, relocating to OpenAI’s Singapore office and reporting to chief strategy officer Jason Kwon. JioStar, a Reliance Industries and Walt Disney joint venture, runs the JioHotstar streaming platform with more than 300 million subscribers. Before JioStar, Mani spent more than 13 years at Google as general manager for Android and Google Play across Asia Pacific and Japan.
JD Property, the real estate arm of Chinese e-commerce group JD.com, has elevated Wu Hailong to regional chief executive officer for the Americas, according to his LinkedIn profile. Wu, a CFA charterholder with a master’s degree in real estate investment and finance from Cornell University, takes up the New York-based role this month after serving as managing director with JD Property in Riyadh, where he led Middle East investment activities. He joined JD Property in 2021 from GLP.
Sun Venture has promoted Ho Chee Mun to director, investment and asset management, according to his LinkedIn profile. The Singapore-based investment firm, which is active across office, retail, hospitality and living assets in Singapore, the United Kingdom and Australia, elevated Ho this month from associate director, a role he had held since July 2022. Ho joined Sun Venture from Allgreen Properties, where he spent more than four years as senior manager for investment and asset management, and earlier held roles at Mapletree and CapitaLand.
Kinkora Investments has named Nick Crockett as its inaugural chief investment officer, according to a LinkedIn update. Kinkora is the newly rebranded real estate investment management arm of Australian advisory firm KordaMentha, operating from Melbourne with a focus on industrial and residential real estate. Crockett joined KordaMentha’s real estate group in 2021 after serving as head of capital for Cadence Property Group in Singapore, and has previously held senior roles with CBRE and JLL across Asia Pacific. He brings more than 20 years of real estate debt and equity capital experience spanning Australia, Asia, Europe and the United States.
Greenberg Traurig has added hospitality lawyer Mitch Reynolds to its Singapore office as of counsel in its real estate practice, the global law firm announced on 26 March. Reynolds joins from Squire Patton Boggs, relocating from Australia to Singapore. He advises hotel owners, operators, investors and financiers on management and franchise agreements, hotel leasing, and investment structures across Asia Pacific, the Middle East and Europe, with notable work in Australia, Thailand, Vietnam and the Gulf. His arrival supports Greenberg Traurig’s push to build a leading Asia hospitality practice from its Singapore hub.
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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