This week’s roundup of personnel moves at Asia’s real estate players finds top level leadership transitions at a pair of mainland real estate giants, as well as senior level changes at private equity firm Forum Partners and at property consultancy Cushman & Wakefield in Hong Kong.
Mainland hypermarket operator Sun Art Retail Group has appointed Alibaba director Lin Xiaohai as its new chief executive replacing Huang Ming-tuan, according to an announcement to the Hong Kong stock exchange. Now 49, Lin took the reins at the mainland retail titan on 10 May, after Alibaba had established a controlling stake in Sun Art in October of last year. Lin had been appointed as an executive director of Sun Art in October, and Huang, who founded the parent company of China’s RT-Mart, has now shifted to a non-executive director role on the company’s board.
Adrian Cheng has been named chairman of New World Department Store China, marking the latest step in the transfer of power at Hong Kong’s New World Group to the third generation of the Cheng family, which controls the property conglomerate. Adrian Cheng takes the helm at the company controlling the mainland outlets of New World Department store as his father, Henry Cheng, resigns from the company, the company told the Hong Kong exchange. As part of a wholesale board reshuffle at the retailer, CEO Philip Cheung has been redesignated as co-CEO as 20-year New World Department Store China veteran Mandy Xie was elevated to become co-CEO as well as an executive director on the company’s board.
Gavin Norris has joined real estate fund manager Forum Partners in Hong Kong as a managing director with the London-based firm. Norris takes on his new role after more than six years with boutique private equity shop Atlantian Capital, where he had also served as a managing director. The University of New South Wales graduate also has previous experience at online real estate platform Juwai.com, as well as at Eureka Funds Management and Colonial First State Global Asset management.
Cushman & Wakefield has added veteran retail executive Baldwin Ko to its team in Hong Kong, with the former L’Oreal representative joining the property consultancy as deputy head of retail management with its retail services division, according to a company announcement. After serving as retail business development director at L’Oreal since the end of 2017, Ko will now be responsible for expanding C&W’s asset enhancement services and business partnerships in Hong Kong, the company said.
Yi (Ruby) Jin has joined the investment team at JM Capital（金茂资本）this month after nearly three years at JLL in Beijing. Before joining JM Capital, an international property investment platform set up by China Jinmao and Australia’s Macquarie Capital in 2016, Jin had been an assistant manager with the capital markets team at JLL, and also has previous experience with Colliers International in Beijing.
Carol Law has been promoted to corporate property services and real estate director for Asia Pacific at financial services provider Fidelity International, according to an update to her LinkedIn profile. Law earned her upgrade after four years with the US firm, where she had previously served as real estate director for the region. The University of Hong Kong graduate also has prior experience with CBRE.
Brian Shuptrine has seen his territory grow at project management firm Turner & Townsend with the 15-year company veteran now taking responsibility for real estate across the Asia region, according to a LinkedIn update. Based in Singapore, Shuptrine previously had served as managing director for southeast Asia and director of Singapore with the UK firm. The University of Newcastle graduate also is a regional advisory board member with real estate non-profit group the Royal Institute of Chartered Surveyors (RICS).
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.