Some of Asia’s best known developers and fund managers are changing their top management this week as a Li Ka-shing invested asset management firm finds a new head for its private funds division, a once defaulting developer gets a new corporate secretary, and a top hotel firm gets a new director of development. Read on for all the details.
Paul Yi is now on sabbatical after leaving his role as Head of Investments with ARA Private Funds. The executive, who also served as Chief Executive Officer of ARA Asia Dragon Fund II and had been with ARA Asset Management since 2014, has seen at least some of his duties taken over by David Kim who is now head of investments and head of portfolio management for ARA private funds, according to a company organisation chart published by the Singapore-based investment management firm earlier this month.
Habibullah Abdul Rahman is now company secretary of Kaisa Group Holdings, replacing Siu Ho Fai, who resigned from the troubled Hong Kong-listed developer effective May 24th. Rahman takes on his new role after joining the Shenzhen-based builder in June of last year, when the company was still struggling to work out a debt-restructuring plan with its creditors following a default on its bonds in early 2015. Kaisa agreed to a settlement with its offshore creditors earlier this month.
Christine Ong now is head of private funds management for Mapletree Investments, replacing Amanda To. Ong joined the Singapore-based investment manager in 2012 from Citi Private Bank and also previously worked with Ascendas/MGM Funds Management for two years. To had been with the fund management wing of the Temasek Holdings-controlled real estate developer and investor for more than a decade.
Derek Chen is now Director of Development, Marketing and Program Management for Greater China with the InterContinental Hotels Group (IHG), based in Shanghai. The graduate of Northwestern University in Illinois comes to the management firm behind Holiday Inn and Intercontinental Hotels from real estate consultancy JLL where he had spent more than two years as Director of Retail Tenant Representation.
Frank Tze Wei Ng is now Head of Investor Relations and Capital Markets with Viva Industrial Trust Management in Singapore. The position is a return engagement for the Princeton University graduate at the Singapore REIT after Ng, who spent the last two years serving as the lead economist with the Monetary Authority of Singapore, had previously been with Viva as Head of Corporate Finance and Investor Relations from 2012 to 2014.
Jan Clostermann has founded a new design agency in Beijing and now serves a director with CLOU architects in China’s capital. The German-trained architect has been involved in a number of high profile projects on the mainland, including Vanke Jiugong, Fuzhou Wusibei Thaihot Plaza and Raffles City Beijing. Clostermann also previously was a founding partner of design firm SPARK in Beijing, after establishing Alsop’s Beijing office.
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.