Leadership changes at mainland real estate firms lead this week’s collection of personnel moves from around the region, as China Resources Land announces a new president at the same time that Shimao Services and LVGEM China say goodbye to non-executive directors. Also making the list are changes at LaSalle Investment Management, Digital Realty and CapitaLand Integrated Commercial Trust.
China Resources Land informed the Hong Kong exchange on 26 July that it had appointed Wu Bingqi, an executive director of the state-owned developer, as its new president. Now 50, Wu originally joined China Resources Land in 2007 and has served as chief human resource officer of the company and non-executive chairman of its northern China business unit since January of last year. Wu replaces Li Xin, who will remain on the board as an executive director and was appointed as chairman of the company in May.
Shimao Services Holdings announced on Sunday that Liu Yu has resigned from his role as an executive director with the company effective that same day to pursue further career development. The resignation, which comes just seven months after Liu joined the board, forced the property management division of debt-wracked Shimao Group to withdraw a motion proposed for its annual general meeting on 18 August appointing Liu to a fresh term on its board. Last week it was revealed that Shimao Group and four of its units had been sued by Singaporean lender UOB for violating terms of loan agreements.
LaSalle Investment Management said on 26 July that it has appointed Brian Klinksiek, the firm’s current head of European research and global portfolio strategies as its global head of research and strategy, effective from 1 January. Continuing to be based in London, Klinksiek is taking over the top research role with the fund manager from Jacques Gordon, who will be retiring from LaSalle at the end of this year.
Mark Smith, former managing director for Asia Pacific with Digital Realty, has co-founded data centre tech firm Qarbon Technologies in Tokyo where he serves as executive chairman, according to a LinkedIn update. Smith is launching the new venture after more than three and a half years at Digital Realty in Singapore, and he also has previous experience with virtualisation specialist Zettagrid and VMware.
The manager of CapitaLand Integrated Commercial Trust (CICT) informed the Singapore exchange on 25 July that it had appointed Janine Gui Siew Kheng as a non-executive, non-independent director on its board where she also serves as a member of its executive committee. Now 42, Gui, who is the managing director and head of group strategic investment at CapitaLand Investment, the sponsor of CICT, replaces outgoing non-executive, non-independent director Geoffrey Lim Cho Pin Andrew Geoffrey with effect from the date of the announcement.
LVGEM (China) Real Estate Investment Company Limited told the Hong Kong exchange on 25 July that Chen Wei Sheng has resigned from his position as a non-executive director with the mainland developer and investor with effect from that same date. Chen, whose day job is head of risk management at the Shenzhen Branch of Ping An Bank, is said to be leaving LVGEM’s board in order to focus on his other business commitments.
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.