A set of board level changes lead this week’s look at who’s changing places in Asia’s real estate world, as an Anbang executive appears to be exiting a roles as some of the mainland’s leading corporates, and Korea’s biggest pension manager can has a few empty seats around the decision-making table. Read on for all the news on who may be looking for a new role and which lucky professionals just earned a new seat.
Gemdale Group announced on July 5th, that Anbang Insurance executive Yao Dafeng had resigned from his seat on the developer’s board for personal reasons. The announcement came just two days after Minsheng Bank issued a notice that Yao had asked to leave the board of the mainland financial institution, also for personal reasons. Yao has served as a vice president of Anbang Insurance since July 2011 and originally joined the mainland group in August 1981.
NYSE-listed Xinyuan Real Estate announced on June 29th that Helen Zhang had resigned as the developer’s chief financial officer, with Xuefeng Li, currently the general manager of Xinyuan’s finance department being appointed as interim CFO. Xinyuan, which has projects in the US, as wellas in China, brought Li on board from Dalian Wanda Group in 2017. Zhang had served as CFO since 2016.
In-Sik Cho, acting chief investment officer for Korea’s National Pension Service tendered his resignation on July 4th, according to reports in the Korean press, citing sources within the sovereign wealth fund. Cho’s departure would leave vacant four of nine top executive positions at the $580 billion pension manager. Cho had served as acting CIO since Myoun-Wook Kang left NPS in July of last year.
Beijing-based co-working operator Ucommune has appointed James Yan (Lingyang) as its chief financial officer. Formerly an audit partner with Deloitte in Beijing, the graduate of Beijing Capital University replaces Liu Yan, who had been the firm’s CFO since it was founded in 2015. Unconfirmed reports earlier this year from sources with knowledge of Ucommune’s operations had indicated friction between Liu Yan and Ucommune founder Mao Daqing over the shared office startup’s burn rate.
Jimmy Lu has joined Longfor Properties in Shanghai as Head of Innovation Investments for the Hong Kong-listed developer. Lu comes on board at Longfor after more than two and one-half years with Jingrui Holdings in Shanghai, where he had served as Director of Mergers and Acquisitions. The University of Auckland graduate also has experience with Ernst and Young and DTZ (now part of Cushman & Wakefield) on the mainland.
Francis Lo has taken a role as Senior Portfolio Officer for Retail Leasing at Swire Properties in Chengdu, where she will be responsible for the blue chip developer’s Sino-Ocean Taikoo Li Chengdu project. Lo’s new position comes after she served as a property officer for retail leasing with Swire’s Pacific Place project in Hong Kong, while enrolled in Swire Pacific’s management trainee program. The graduate of USC and Hong Kong University has been with the Swire Group since 2012.
Christine Li has been promoted to Senior Director with Cushman and Wakefield in Singapore, where she serves as the property consultancy’s Head of Research for the city. Li’s new job title comes after she served as a director for more than three years, after joining C&W from local agency OrangeTee in 2015. The Cornell University graduate also has experience as a correspondent with Singapore Press Holdings, before joining the world of charts and tables.
Elisa Yiu has rejoined Cushman and Wakefield in Hong Kong as a Director and Head of Marketing & Communications for the Asian financial hub. Yiu returned to the property agency after around two years in the United Arab Emirates. Before heading off to the Middle East, the University of Hong Kong graduate had been with C&W for around 18 months, after joining from recruitment firm Robert Walters.
Carlby Xie has surfaced as Head of Research for South China at Savills after a brief stint at Knight Frank. Xie is now based in the property consultancy’s office in Guangzhou after having joined Knight Frank in April as Director and Head of Research & Consultancy for China. No reason was given for Xie’s abrupt departure from Knight Frank, and the role no longer appears on his LinkedIn profile. Xie had previously served as Senior Director and Head of Research for China at Colliers for nearly five years.
If your company has made a major new hire, if you’ve recently scored your dream job or if someone that you never really liked just got fired, please drop us a line here at Mingtiandi, and we will be happy to share your news with Asia’s real estate community.