A disappearing mainland executive leads this week’s roundup of personnel moves around Asia’s real estate industry, as Harvest Fund Management says its chairman has been caught up in an investigation. Also making the list is a retirement at a Hong Kong-listed REIT and a board overhaul at China Evergrande’s electric vehicle unit.
Harvest Fund Management announced on 9 August that it has been informed that its chairman, Zhao Xuejun, is currently cooperating with mainland authorities in an investigation. The company described the investigation as related to personal issues and not to its fund management business. Zhao has now resigned from his role as chairman with co-chairman An Guoyong taking over as acting chairman. The mainland fund manager reassured investors and the public that its management and operations are stable. A PhD graduate of Peking University, Zhao became president of Harvest in 2000 and was named chairman and president in 2017.
China Merchants Commercial Real Estate Investment Trust notified the Hong Kong stock exchange on 6 August that Huang Junlong has stepped down from his role as chairman of the board and non-executive director of the REIT’s manager due to his age. Huang has also resigned from his role as a non-executive director on the board of China Merchants Land, which sponsors the REIT. The manager of China Merchants Commercial Real Estate Investment Trust has appointed Yu Zhiliang, 45, as its new chairman. Yu has been chief financial officer of China Merchants Shekou Industrial Zone Holdings Co., Ltd since 8 July and is a non-executive director of China Merchants Land.
China Evergrande New Energy Vehicle informed the Hong Kong exchange on 5 August that Liu Yongzhuo (pictured) and Qin Liyong had that day been removed from their roles as executive directors of the company with immediate effect. The company had said in January that Liu had been detained “on suspicion of illegal crimes.” The two directors were both removed at a general meeting with Clifford Choi Wai Hong named as an executive director on the automaker’s board along with two independent, non-executive directors.
The manager of Elite UK REIT informed the Singapore stock exchange on 7 August that it has appointed Tan Chin Hwee, 53, as an independent, non-executive director on its board. Tan had served as chief executive officer of commodities firm Trafigura Pte Ltd from 2016 through March of this year. The veteran executive takes over a board seat vacated by the retirement of Tan Huay Lim, who had left the position a day earlier.
Marco Leung has joined Schroders Capital in Hong Kong as a senior investment manager with the company’s real estate team, according to a LinkedIn update. Leung joined the UK firm last month after two years with KaiLong Group, where he worked with the investment and portfolio management team. The Hong Kong Polytechnic graduate also has previous experience with Chinachem Group and Cushman & Wakefield.
Stella Ho has signed up with Knight Frank Greater China as an executive director, per a LinkedIn update. Specialising in real estate appraisal and valuation, Ho joined the property consultancy in Hong Kong this month after 21 years with rival Coliers, where she had served most recently as an executive director. The graduate of the University of Hong Kong and the Chinese University of Hong Kong also has earlier experience with Insignia Brooke (now part of CBRE).
CBRE South Korea announced on 9 August that it has hired David Chanseo to join its data centre solutions team in Seoul. Chanseo joins the property consultancy after five years with Morgan Stanley in Seoul, where he had served as property team lead, according to his LinkedIn profile. The University of New South Wales graduate also has previous experience with the Australian Department of Foreign Affairs and Trade.
DLA Piper has named Ed Sheremeta co-head of Japan real estate, with the experienced partner relocating from Hong Kong to Tokyo for the role, according to a LinkedIn update. Sheremeta took on his new role this month after several years as a partner with DLA Piper in Hong Kong. He also has previous experience with Ropes and Gray, as well as with Skadden, Arps, Slate, Meagher and Flom.
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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