In this week’s collection of leadership changes at Asia’s real estate developers, investors and other property professionals, a cash-strapped mainland builder has let go its CEO as it struggles to sell off stalled US projects.
Also in the news, regional industrial developer and fund manager Logos has promoted one of its veterans, while mainland heavyweight China Vanke makes a pair of new personnel moves.
Troubled mainland developer China Oceanwide Holdings has named chairman Han Xiaosheng as its new chief executive officer, replacing Chen Wu, according to an announcement to the Hong Kong stock exchange on 5 August. The change in leadership took effect from that same day, with the announcement indicating that Wu had resigned due to other work engagements. Oceanwide, which has struggled to sell of a set of stalled overseas projects, including the Oceanwide Centre in San Francisco, said that the top-level change would ensure that the company has consistent leadership and implements its strategy effectively.
ARA-controlled Logos Property has promoted Stephen Chu to head of funds management for North Asia, expanding the company veteran’s role some five years after he joined the logistics developer and fund manager. Chu, who continues to be based in Shanghai, had previously served as head of funds management for China at Logos, and the University of Melbourne graduate also has previous experience at Australia’s Goodman Group.
China Vanke has promoted Neil Zhang Hongbin to director of alternative investment, where the former Colliers broker will look after asset disposals for the top-three mainland developer. Zhang’s promotion comes just four months after he joined Vanke as a manager with the company’s commercial real estate division, after spending three and a half years at brokerage Colliers International in Hong Kong.
Leon Wang is joining China Vanke as head of asset management for the developer’s Hangzhou operation. Before signing up with the Shenzhen-based builder, Wang had spent six years in the real estate division of Shanghai’s Fosun Group, where he had served most recently as director of asset management in the company’s overseas asset management department. The graduate of Hong Kong Polytechnic also has previous experience with mainland developer Yango Group and Hong Kong’s Wharf Holdings.
Wendy Lau has been promoted to executive director for office services with Knight Frank in Hong Kong, according to an update to her LinkedIn profile. Lau takes the step up after just over two years with the real estate consultancy as a senior director. The veteran office broker had previously spent more than 16 years with rival firm Colliers International in the city, where she worked her way up to executive director before leaving in late 2017.
Also moving up a notch at Knight Frank in Hong Kong is Greater China head of marketing and communications Natalie Tsui, who also takes on the rank of executive director with the UK-based firm. Tsui was awarded her ED title after just over two years as a senior director, with the graduate of Hong Kong Baptist University now having spent more than seven years at Knight Frank after joining from Swire Properties.
Kristie Wong has joined Greengate Advisors in Singapore as Senior Consultant and Head of Operations with the project management and technical advisory firm. At Greengate, Wong, who previously spent five years at Arcadis, is being reunited with former colleague Alisdair Gillies, who set up the new firm earlier this year. In her new role, the National University of Singapore graduate will be charged with delivering technical consulting services to developers, lenders and investors across the region, while also taking responsibility for delivering the company’s proptech strategy.
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.