Mingtiandi’s survey of personnel moves in real estate firms across Asia this week leads off with another Hong Kong-listed developer finding top leadership close to home, although this Guangzhou builder at least ventured beyond blood ties for its latest board member. Also reportedly on the move in Hong Kong is one of the rare brokers to spend more than a decade with a single firm, and a US private equity firm has brought on board a top Goldman exec to help expand its business. Find out the details on all these moves and more.
An IPO prospectus for a spinoff of China Aoyuan Group hints at some new leadership at the Guangzhou developer. The exchange filing for the expected HK$752.5 million ($97 million) market debut of Aoyuan Healthy Life, a property management spinoff of Aoyuan Group identifies, Tao Yu, the 25-year-old son-in-law of Aoyuan chairman Guo Ziwen as an Executive Director on the board of the company, which expects to list in Hong Kong next week. Tao earlier worked in Aoyuan Property Group (Australia), a subsidiary of China Aoyuan Group, as a financial analyst.
Market reports in Hong Kong real estate circles indicate that 13-year Colliers veteran Reeves Yan is on his way to become Executive Director and head of Capital Markets for CBRE in Hong Kong, although no official announcement has been made at this time. Yan’s jump to the green team comes just around one month after CBRE announced internally that its former Capital Markets chief in the city, Stanley Wong, was stepping down from the leadership role to focus on working with clients.
US private equity pioneer KKR has hired Kate Richdale from Goldman Sachs Group to help expand its Asia business beyond private equity. Richdale, who previously worked in Hong Kong as Goldman’s Chairman of Investment Banking for Asia, excluding Japan, will now lead KKR’s strategy and business development in Asia Pacific. The company say it expects the investment banking executive to work with senior leadership to expand into new investment strategies and across business lines, according to a March 3 statement from the firm.
There has been a shakeup at Yanlord Land Group Ltd, a Singapore-listed real estate developer that builds high-end residential property projects in mainland China, with its Group Vice President Wang Zhe having stepped down on March 3 after being in the post for less than a year. Wang, who has 20 years of experience in financial management and investment, joined Yanlord in April 2018 after having served as vice president and CFO of Guangdong Helenberg Real Estate Group.
KWG Group Holdings Limited this month appointed Hellen Wu as Head of Product Planning and Research Department for its southern China business. Wu joins the Guangzhou-based developer after having served as a manager with national-level heavyweight China Vanke in the city for four years. The graduate of Coventry University in the UK also has previous experience with Cushman & Wakefield in Guangzhou.
Moving up to Senior Director at Colliers International in Beijing this month is Connie Hou who previously was Director of Office Services at the same company for two years and five months. Before joining Colliers in 2014, Hou also had worked at JLL in Beijing as a Senior Manager, and also served over five years at Cushman & Wakefield, where she worked her way up to Associate Director.
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.