China’s defaulting developers lead this week’s list of personnel moves from around the region as a pair of Hong Kong-listed players announce changes to their senior management. Also making the list is a former ARA Asset Management deputy CEO who takes the helm of an online investment startup and a data center division of Brookfield adds to its team in Singapore.
Kaisa Capital Investment Holdings filed a statement with the Hong Kong exchange on 9 September revealing its appointment of Zheng Wei, a six-year veteran of Kaisa Group, as its new chief executive officer, effective that same day. Zheng, now 44, replaces Zhao Yi both as CEO and as an executive director of the fund management division of Kaisa Group. Before this latest appointment, Zheng served as vice president of Kaisa Culture Sports & Technology Group, another division of the Shenzhen property conglomerate. Kaisa Group first defaulted on offshore bonds in December last year and has been struggling to restructure.
Defaulting mainland developer Zhenro Properties Group Ltd announced on 9 September that it has appointed Li Yang, an executive director of the company, as its new chief executive officer effective on the 13th of this month, as the company overhauls its senior management after defaulting on offshore bonds in April of this year. Li, now 36, is replacing Huang Xianzhi, who resigned as CEO but will continue to serve as chairman and an executive director. The company’s chief financial officer, Chan Wai Kin, also resigned and is leaving the board to make way for Chan King Tak, 41, as Zhenro’s new CFO.
Beng Tiong (BT) Ng has joined Singapore fintech firm RealVantage as chairman, according to a statement by the startup. Ng, who served as deputy group CEO and group chief operating officer of ARA Asset Management until May of this year joined the online investment platform last month as an advisor and shareholder, in addition to his chairman role, according to the company statement. At RealVantage, Ng is reunited with former ARA colleague Keith Ong, who co-founded the company in 2019.
Michael Solomon has joined Link Asset Management in Hong Kong as general manager for strategic investment, according to a statement by the manager of HKEX-listed Link REIT. In his new role, Solomon is reporting to Link’s chief investment officer for strategic investment, Kenny Lam, and will support formulation, development and implementation of strategic initiatives, investment and portfolio management strategies, the company said. Prior to taking on this latest role, Solomon spent two years as head of investments and capital markets with Hongkong Land.
Former Allianz Real Estate executive Sanket Chatwani has joined DCI Data Centers in Singapore as director of investments, according to a LinkedIn update. Chatwani joined the Australia-based division of Canada’s Brookfield Asset Management this month after more than five years with Allianz Real Estate in the Lion City, where he served most recently as a vice president. Chatwani also has earlier experience with JP Morgan, Shapoorij Pallonji Investment Advisors and Tata Housing and Development.
Clarisse Wong has signed up with Mercer in Hong Kong as lead real estate specialist for Asia with the investment manager’s private markets division, according to a LinkedIn update. Wong joined Mercer last month after more than four years with Arch Capital Management in Hong Kong, where she had served as an associate director with the firm’s investment and asset management division. Wong also has previous experience with Alpha Investment Partners, US mall developer Taubman and ARA Asset Management.
Gina Lee has picked up her white and yellow name cards at Savills in Seoul, South Korea where she now serves as a director with the investment advisory team. Lee joins the property consultancy from LaSalle Investment Management, where she had served less than two years as a senior vice president with the firm’s investment and asset management division. The University of Auckland graduate also has previous experience with CapitaLand and MetLife.
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.
Leave a Reply