A shock chief executive switch leads this week’s review of personnel moves in Asia’s real estate industry, with Hong Kong’s New World Development naming its second new leader in two months. Also making the list are new appointments at a Japanese REIT manager and at a Singapore hospitality trust.
New World Development announced on Friday afternoon that it has appointed Echo Huang Shaomei as the company’s chief executive officer, replacing Eric Ma Siu-Cheung, who served two short months in the role after taking over from scion Adrian Cheng. Ma’s resignation paved the way for Huang to take over the top spot at the developer on Friday. Huang had previously served as chief executive of New World China Land Ltd, the group’s primary mainland China subsidiary, and has been a member of New World’s board since 2020.
Japan Excellent Inc announced on 26 November that it has appointed Osamu Inagaki (pictured) as president and chief executive of its Japan Excellent Asset Management unit, replacing Shuichiro Kayama, who has resigned. Inagaki’s appointment is set to take effect from 8 January. In the same announcement, the developer and fund manager said that it had appointed Kazuhiro Ono as executive director, replacing Kayama, with that transition also taking place on 8 January.
Frasers Hospitality Asset Management informed the Singapore stock exchange on 27 November that it has appointed Ho Hon Cheung as an independent, non-executive director on its board with effect from 1 December. Now 70, Ho previously served as non-executive chairman of Frasers Logistics & Commercial Asset Management after an executive career which included serving as chief executive of PT Bank Danamon Indonesia and as a managing director with Singapore state investment firm Temasek Holdings.
Fosun Tourism Group informed the Hong Kong stock exchange on 29 November that it has appointed Bao Jiangjun as chief executive of the company with effect from that same day. Now 48, Bao had been serving as co-president of the group and chief executive of its Resort Asset Management Centre after joining the unit of Shanghai-based Fosun in November 2022. Before coming aboard with Fosun Tourism Bao had been a partner in Fosun Group’s real estate division.
Anna Town has added the title of global head of brand strategy to her responsibilities at Cushman & Wakefield, according to a LinkedIn update. Town’s new duties are in addition to her role as head of business development services for APAC and EMEA with the property consultancy. The University of Technology Sydney graduate has now been with Cushman & Wakefield for over eight years and also previous experience with JLL.
JLL has appointed Callie Liu as a senior director with its value and risk advisory business in China, according to a statement by the company on 28 November. Liu joins the property consultancy from PriceWaterhouseCoopers, where she had held a senior position in the firm’s valuation division and will be reporting to George Xiong, head of China valuation and risk advisory for JLL.
CBRE announced on 27 November that it has promoted Michael Tay to deputy managing director for Singapore advisory with effect from 1 January. Tay’s new role is in addition to existing duties as head of capital markets for Singapore with the property consultancy, where he continues to report to Moray Armstrong, managing director for Singapore advisory. Tay has now been with CBRE since 2000, according to the company statement.
Knight Frank said this past week that it has appointed its India chairman and managing director Shishir Baijal to the role of non-executive chair of Asia Pacific with effect from 1 April 2025. Baijal has led Knight Frank’s India business since 2012 after earlier serving as a partner in fund manager Everstone Capital Advisors. The graduate of Australia’s Bond University also has previous experience with retailer Inox Leisure.
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.
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