A top management change at Ping An Insurance leads Mingtiandi’s first review of personnel moves around Asia for 2024, with the mainland financial giant naming its now former co-CEO to a non-executive director role. Also making the list is a senior private equity appointment in Korea and a new board member at Malaysia’s IOI Properties.
Ping An Insurance announced to the Hong Kong stock exchange on 29 December that Jessica Tan Sin Yin, 46, was stepping down from her roles as co-chief executive and executive vice president of the company with effect from 1 January 2024. The announcement confirmed a management change first announced in September, with Tan, a former McKinsey partner who had been with the insurer since 2013, remaining involved with the mainland insurer as a non-executive director, according to the statement.
Campbell Lutyens has chosen former Korea Investment Corporation executive Kim Jin-tae to lead its Seoul office, according to a statement on the UK private equity firm’s website. Kim had served as global head of the private equity division of Korea’s sovereign wealth fund until September and spent a decade at the organisation. Prior to joining KIC, Kim worked with Midas Asset Management in Seoul as well as with Goldman Sachs.
Malaysia’s IOI Properties Group announced to the Kuala Lumpur stock exchange on 28 December that it has appointed former DBS banker Lim Sim Seng as a non-executive, independent director on its board from 1 January. Lim had been group executive for consumer banking and wealth management with DBS before retiring in March of this year in a management reshuffle. Lim also served as chairman of the Singapore Land Authority from 2014 through 2020.
Hong Kong property agency Midland Holdings announced to the local bourse on 28 December that Victor Cheung Kam Shing had resigned from his position as executive director of the company, from his role as a member of its executive committee and from his responsibilities overseeing the company’s China business with effect from that same day. Now 61, Cheung had been associated with Midland since 1993 and is said to be leaving to pursue other interests.
CapitaLand China Trust Management informed the Singapore stock exchange on 22 December that Kuan Li Li had retired as a non-executive, independent director on its board effective 1 January. Now 60, Kuan had been a board member for CapitaLand’s China REIT since 2018 following a finance career that included stints as global head of tax at DBS, country head for Barclays in Singapore and chief financial officer with ABB in Singapore.
Elite Commercial REIT Management announced to the SGX on 29 December that it has appointed Sarena Cheah Yean Tin, 49, as a non-independent, non-executive director on the trust’s board with effect from 1 January. Cheah, is the sister of Evan Cheah Yean Shin, who stepped down from his non-independent, non-executive director on the REIT’s board on the same date. Sarena Cheah is a managing director with several divisions of Malaysia’s Sunway Group, which is a sponsor of Elite Commercial REIT.
Stamford Land Corporation informed the Singapore exchange on 27 December that it has appointed Gillian Goh Li-Lin as an independent, non-executive director on its board from 1 January. Now 50, Goh joined the developer’s board one day after Huong Wei Beng stepped down from his board position after serving a four-year term. Until December 2022 Goh had served as director and head of continuing sponsorship with PrimePartners Corporate Finance Pte Ltd in Singapore and has held no other directorships in the past five years.
Centurion Corporation has appointed Chan Wan Hong as an independent, non-executive director on its board, where he will also join the developer and property investor’s remuneration committee from 1 January. Now 50, Chan has been a legal advisor to the rental housing specialist since 2010 and is currently a senior director at law firm FC Legal Asia. Chan joins as independent, non-executive director Chandra Mohan prepares to step down from Centurion’s board in April, according to a separate announcement to the Singapore exchange.
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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