Senior management shifts at some of mainland China’s largest real estate firms lead Mingtiandi’s collection of people moves this week with major changes at China Vanke and department store operator Golden Eagle Retail.
There are also some familiar faces showing up in new places in the private equity world in Hong Kong and Shanghai, with all the details waiting for you a bit further down the page.
Development giant China Vanke on 27 August announced that it is establishing a Northwest Region Business Group under the direction of its Xi’an general manager, Guo Jixun, who has been promoted to head the fresh business unit. The new division of the top three mainland developer will manage Vanke’s business in the mainland provinces and territories of Shaanxi, Gansu, Xinjiang, Qinghai and Ningxia.
Department store operator Golden Eagle Retail has named Chen Yihang as its new chief executive effective 26 August, according to an announcement to the Hong Kong exchange. The mainland based group picked up the 38-year-old executive some eight months after he left Dalian Wanda Group, where he had served for 13 years. During his time at Wanda, Chen had served since 2018 as assistant president of the Beijing-based mall developer’s Southeast/Southern China Operation Center.
Seong Lee joins Hong Kong-based PAG as a vice president with the private equity firm’s investor relations team effective 1 September, Mingtiandi has learned. Lee has signed up with PAG after recently completing his MBA at the University of Pennsylvania’s Wharton School, after previously working with Blackstone and its Park Hill Group spin-off. In his Park Hill role, Lee helped lead the origination, underwriting and management of real estate private equity fund raises in Asia Pacific as a director based in Hong Kong
Fang Holdings, the parent company of mainland real estate website Fang.com has appointed Wang Ke as its acting chief financial officer, effective today, replacing Li Zijin, according to an announcement by the NYSE-listed company. Wang joins the Web 1.0 listings platform as it prepares to raise up to $30 million through a sale of the Bejing-based company’s A-shares to its top management in a move which it says will lower its leverage while demonstrating confidence in the future. Li is said to be leaving the CFO role for personal reasons.
Yiming Xie has joined regional mini-storage specialist Storhub Self Storage as mergers and acquisitions director based in Shanghai, according to an update to his LinkedIn account. Xie joins Storhub after just over two years as investment director with Green Fir Capital, a fund management unit of mainland developer Landsea Group. The graduate of the Shanghai Institute of Technology also has previous experience with private equity firm World Union Investment.
Ivy Yeung is now a senior project manager with casino owner and operator Suncity Group after joining the Macau-based firm last month. The UK-educated design specialist takes on her new role after spending the previous two years as a project manager with developer Sun Hung Kai Properties, and also has experience at Hong Kong’s K11, Associated Architects and design firm Wong & Ouyang.
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.