This week we have a flurry of high level real estate investment executives landing in new roles, a new head of the Guangzhou office of one of the big real estate consulting firms and more faces in new places for China’s real estate professionals. Read on for more details.
Mark Suchy has resigned from his position as Director of Investment at CBRE in Shanghai, where he was responsible for sourcing and disposing of en bloc assets in China, as well as leading a number of purchases of North American assets by Chinese investors in the last year. Suchy has not yet announced his future plans. The decision last week by the ten year veteran marks the fifth time in the last 18 months that a director-level executive has left CBRE’s investment team in China to pursue other opportunities.
Stanley Chin has set up his own shop as Group CEO and Principal for newly formed real estate private equity firm Treasure Capital Asia based in Hong Kong. Before establishing Treasure Capital Asia Chin oversaw the Greater China region for real estate investment and developer company Portman Holdings for more than two years. The real estate finance executive also previously served with Henderson Global Investors and HSBC.
Luke Moffat has joined CBRE as the company’s latest managing director for eastern China. Based in the real estate services firm’s Shanghai office the former executive with MGPA and later Blackrock (after MGPA was acquired) will have profit and loss responsibility for operations in Shanghai and Hangzhou. Moffat takes over the role vacated when Andrew Slevin resigned in June last year. Over more than a decade no top executive has lasted beyond two-and-a-half years in CBRE’s Shanghai office, so industry watchers will be eager to observe Moffat’s tenure.
George Agethen has now joined Ping An Trust in Shenzhen as Senior Executive Director for the China financial services giant. In his new role at Ping An, Agethen will be responsible for sourcing capital for the company’s outbound investment efforts, offering Chinese local investors avenues for investing overseas. Prior to taking on his new role Agethen served as Head of Capital Markets for Harvest Real Estate Investments (HREI), and earlier was a Vice President with Macquarie Capital Advisors.
Gary Chan is now Managing Director at Fosun Property Holdings based in Shanghai where he has responsibility for outbound investments for the private Chinese conglomerate. Before joining the real estate division of Fosun last month, Chan was with the Capital Markets Department for Harvest Real Estate Investments based in Hong Kong where he led the company’s fund-raising efforts.
Carrie Yang Zhao has joined Credit Suisse in Singapore as a summer associate while completing her MBA at the London Business School. Prior to undertaking her graduate studies Yang served with Hong Kong-based developer Sun Hung Kai Properties in the asset management division where she specialised in CRM, real estate valuation, investment, development and management. Yang expects to complete her MBA in 2015.
David Hui has joined Cushman & Wakefield as General Manager of the company’s Guangzhou Office. Prior to joining the real estate consultancy, Hui served as the general manager of the property department at the Guangzhou office of developer Nan Fung China, and earlier had also been the general manager for commercial development and retail operations for Gold Tak Land Holdings in Guangzhou.
As usual, if you know of other China real estate professionals changing their jobs, getting promoted or just doing something exciting, please feel free to share with the rest of the community here at Mingtiandi.