JLL has named a new head of capital markets for China, bringing home from the UK a 16-year company veteran to helm the property consultancy’s investment services division across the mainland.
Eric Pang, who first joined JLL in 2004, will take up his new role in January of the coming year, where he will lead the capital markets team’s services to domestic and international clients across all sectors, including investment sales, advisory and financing.
“Under Eric’s leadership, we’re confident of further developing our China Capital Markets business and utilising his experience in translating global capital flows into opportunities for our clients,” JLL’s CEO of capital markets for Asia Pacific, Stuart Crow said.
JLL is naming new leadership for its investment division in China as the country proves to be among the most durable markets for asset trades this year, with third quarter transaction volumes on the mainland down by just 10 percent this year, compared to 2019, despite the coronavirus pandemic.
Beijing to London Round-Trip
In his new role, Pang will be based in Beijing, where he had served as head of capital markets for northern China at JLL before moving to London in December 2014 to help build up the company’s services to mainland investors in the UK. That move came at a time when Chinese buyers were rapidly ramping up their acquisitions in the country, with Pang leading JLL’s UK-China Business Group since 2015.
Now, the company expects to put his global experience to work as it looks forward to a recovery in investment activity on the mainland. “Investors continue to reinforce their confidence in China real estate and will increasingly demand local expertise paired with global insights,” KK Fung, CEO, for Greater China at JLL said.
He added that, “Eric’s rich experience, strong network and international background will provide a more diversified offering to our sophisticated clients in this rapidly maturing market.”
With Pang returning to China, Jim Yip, who had been named head of capital markets for JLL’s China operation two years ago, will take on the role of head of investment sales for China, and will continue in his Shanghai-based role leading the capital markets team for East China.
Michael Wang, who is currently JLL’s head of north China capital markets, will be focusing on investment sales in Beijing, according to a company statement. JLL now has over 100 professionals on its China capital markets team.