Director departures and appointments at Hong Kong-listed companies lead this week’s list of personnel changes from around Asia, with Kerry Properties losing a non-executive board member and top level changes at three property management firms. Also in the news are changes at KKR and M&G.
Kerry Properties said on 23 June that Cheung Leong has resigned from his role as an independent, non-executive director with the Hong Kong-listed builder. The former Bain Capital partner and Boston Consulting Group consultant is leaving Kerry Properties effective 30 June, after joining the board in May of last year. The departure is due to Cheung pursuing a career opportunity which will require him to step down from all publicly listed commercial boards, according to the announcement to the HKEX.
Hong Kong-listed E-Star Commercial Management said on 16 June that it has appointed Chen Qunsheng, 45, as an executive director on its board with effect from that same date. The board slot comes after Chen began serving as chief executive of the property management unit of Shenzhen-based Galaxy Commercial Property from 4 May, where Chen also was appointed CEO from that same date. Before joining E-Star and Galaxy, Chen had served with China Resources Land from 2017 through 2020 and also has previous experience as an executive director with Shanghai Xintiandi.
Colour Life Services, the property management division of defaulting mainland developer Fantasia Holdings said on 23 June that Chen Xinyu has resigned from his role as an executive director with the company from that same day. Now 56, Chen has been on the board of the Hong Kong-listed firm since August 2019, and is said to be leaving for personal reasons while noting no significant disagreements with the board.
Evergrande Property Services, the property management unit of China’s most notoriously troubled developer informed the Hong Kong bourse on 21 June that it has appointed Han Chao, now 34, as an executive director on its board starting from that same day. Han currently serves as a deputy general manager of Evergrande Group after joining the company in 2015. Also appointed as an executive director on 21 June was Hu Xu, 35.
KKR is giving some new responsibilities to its head of India, according to reports this past week, with Guarav Trehan now tipped to head the firm’s private equity strategy for Asia Pacific. Having joined KKR in 2020, Trehan has overseen the deployment of $5 billion in capital across the market, and previously spent nearly 16 years with TPG where he had served most recently as a firm partner with the US firm.
M&G Investments said on 16 June that it has appointed Manabu Fujita as head of its Japan business, pending regulatory confirmation. With the company now managing over $6 billion in listed Japanese company equity, Fujita, who joins from Schroders Japan, will assume responsibility for M&G’s expanding operations in Japan, including overseeing strategic direction and growing the M&G distribution franchise across the institutional, pension and retail sectors in Japan.
Hardik Dutia has been promoted to senior investment manager with Mapletree Investments in Mumbai, after just less than three years with the unit of Singapore’s Temasek Holdings, according to a LinkedIn update. Dutia received his new name cards after previously serving as an investment manager with the company and also has earlier experience with Embassy Industrial Parks in the city, where he had served as a vice president until 2020.
Sandra Tan is now an assistant manager with the Australia unit of JLL’s international capital team in Singapore after taking a step up from her senior analyst role, according to a LinkedIn update. Tan has now been with the property consultancy since early 2022 after spending more than three years with Frasers Property in the city, where she had served as a senior executive with the manager of Frasers Logistics and Commercial Trust.
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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