Hong Kong’s Hysan Development has decided to invite its long-time COO to join the company’s board, and that move at one of the city’s largest commercial developers leads our roundup of personnel moves from around Asia this week.
Also in the news are top level management changes at Huazhu Hotels, Cromwell E-REIT and US fund manager Stonepeak Infrastructure Partners.
After five years as chief operating officer at Hysan Development, Ricky Lui Kon Wai is set to join the developer’s board as an executive director, according to an announcement to the Hong Kong stock exchange. Lui, who served stints with New World, Pacific Century Group and Hang Lung Properties before joining the developer best-known for its Causeway Bay commercial projects, is responsible for executing Hysan’s strategy, which now includes a significant new project in Shanghai’s Jing An district.
Nasdaq-listed Huazhu Group announced on Thursday that its founder and executive chairman Qi Ji will step down from his role as chief executive of the hotel management chain effective 1 October. Qi, who is said to be giving up the role for personal reasons, will be handing over the CEO position to current company president Hui Jin. Huazhu reported in August that its revenue for the first half of 2021 was up by nearly 84 percent over the same period of last year as China recovered from its 2020 lockdown period.
Ooi Eng Peng has been named as a non-independent, non-executive director on the board of the manager of Cromwell European Real Estate Investment Trust (Cromwell E-REIT), according to an announcement to the Singapore exchange. Ooi, is currently the independent, non-executive deputy chair of Australia’s Cromwell Property Group, which sponsors the REIT, and replaced Michael Damian Wilde on the board on 15 September, as Wilde resumed his role as chief financial officer at Cromwell Property.
Derek Ng has joined Stonepeak Infrastructure Partners as a principal, based in Hong Kong, according to a LinkedIn update. Ng took up his new role recently with the US infrastructure private equity firm after just over a year as head of fund management with Shanghai-based logistics developer New Ease China. Earlier, the University College London graduate spent nearly a decade with Macquarie Group in Hong Kong and Shanghai.
Local news reports in Hong Kong are indicating that long-time Knight Frank valuation and advisory chief Thomas Lam is on his way to a new opportunity after more than a decade with the UK property consultancy. Lam, who has been an executive director with Knight Frank since 2018 and heads valuations and advisory for Greater China, did not respond to inquiries from Mingtiandi after Hong Kong’s Sing Tao Daily reported that 24 September would be his last day at the firm.
Sourabh Kothari has joined Apollo Global Management in Gurugram, India as an associate with the real estate private equity division of the US fund manager. Kothari took on his new role this month after less than two years with CapitaLand’s India division, where he was part of the investment team for Singapore-listed Ascendas India Trust. The Indian Institute of Management graduate also has previous experience with Xander Group and Nomura.
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.