Two key executives at major mainland Chinese developers were reported by mainland media to have resigned their jobs recently as the outlook for China’s property market continues to sour, while one notable CEO started his new role at Cushman & Wakefield this month and global work space provider Space Matrix reported a new addition to its design team. Keep reading for all the details on who has found a new role this week or left for greener pastures.
Mainland development heavyweight Longfor Group announced this past week that Vice President Hu Hao will leave the group on January 1st for personal reasons, becoming the second vice president to leave the company over the last two months and following the recent departures of at least nine other senior company executives. Hu will be replaced by Deng Jian, former general manager of Longhu Group Dalian.
Zheng Zhong, Vice President of the Shenzhen-listed Tahoe Group in China, has resigned his position, following a string of similar resignations at the Fuzhou-based developer. Zheng had previously worked at Wo Real Estate Development and at Fuzhou Taihe Real Estate Development. Tahoe has reportedly been feeling the pinch of China’s liquidity stress, and in late July the company denied media reports that it had begun layoffs of as much as 30 percent of its staff in Shanghai and Beijing. At least six other senior executives, including vice president Shen Linan, have left the company this year.
Dennis Yeo has started his new role as Chief Executive Officer for Southeast Asia and Singapore for Cushman & Wakefield. Yeo will oversee the firm’s corporate real estate services across Singapore and Southeast Asia, which include capital markets, tenant and landlord advisory services and valuations. At the US-based real estate consulting firm, Yeo will also work closely with Jun Sochi, the managing director for C&W Services Singapore. Before moving to C&W, Yeo had been a managing director at CBRE Asia Pacific, and worked at Colliers International in Singapore before that. He is a graduate of National University of Singapore.
Adam Mundy has been named Global Design Director at workplace design-and-build consultancy Space Matrix. In his new position, Mundy will work closely with design teams across Space Matrix’s 14 offices globally. Mundy had previously worked at New York-based M Moser Associates as international design director. He has worked and lived in Hong Kong, New York, Singapore and Sydney, helping a broad range of global clients. At the same time that it announced Mundy’s hire, Singapore-based Space Matrix unveiled that it had brought on board Charlene Lee as CFO and Rajeev Kumar as director of global procurement.
Eason Yang has taken over as Associate Director of Real Estate for WeWork in Shanghai, after previously serving more than three years with CBRE’s Advisory and Transaction Services in the city, where he rose to the rank of Senior Manager. In addition to his time at CBRE, the graduate of Shanghai International Studies University also had served stints at DTZ (now Cushman & Wakefield) and Knight Frank in Shanghai.
Alan Chan has become Senior Manager of global corporate services for Knight Frank in Hong Kong, moving up from his prior role of manager with the UK-based property consulting firm. Before joining Knight Frank in 2016, Chan had previously worked for S&P Global Intelligence in Hong Kong as well as spending more than two and a half years with Colliers International as an Analyst and later Assistant Manager.
If you know of other Asia 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.