A senior leadership change at a Singapore industrial REIT leads this week’s review of personnel moves from around Asia’s real estate industry with banking titan HSBC also making the list with the upcoming retirement of its chairman.
The manager of ESR-REIT announced to the Singapore stock exchange on 30 April that the listed trust’s deputy chief executive officer, Karen Lee, was stepping down with effect from that day. Now 51, Lee joined the REIT managed by Hong Kong-listed ESR in 2022 when it merged with ARA-Logos REIT following ESR’s $5.2 billion acquisition of ARA Asset Management. Lee is said to be leaving to pursue personal interests.
HSBC announced on 2 May that its chairman, Mark Tucker, will be stepping down before the end of this year. Tucker will be retiring from the UK bank after first taking on the chairman role in 2017 with HSBC having already begun preparing to search for a successor after welcoming Georges Elhedery as its chief executive in September of last year. The bank has been under pressure from its major shareholder, Ping An Insurance, to restructure its Asia operations.
Singapore-listed developer BBR Holdings informed the bourse on 2 May that it has appointed Adrian Seow as chief executive officer of the company with effect from 5 May. Now 47, Seow will be taking over the chief executive role from Andrew Tan, who will transition to the position of executive deputy chairman of the company from the same day. Tan is moving upstairs after nearly three decades in the CEO spot, according to a separate announcement. Seow, who is also joining BBR’s board as an executive director, had served as head of Singapore and Southeast Asia for Schroders Real Estate from 2019 through July last year.
The manager of SGX-listed Sasseur REIT notified the stock exchange on 30 April that its chief executive, Cecilia Tan, will be stepping down from her leadership of the retail real estate trust from 28 October. Now 55, Tan has led the China outlet mall REIT since 2021 after having earlier served as an advisor to the chairman of the REIT’s sponsor, Chongqing-based Sasseur Group. Tan is said to be leaving to pursue personal interests.
Singapore Land Group said on 30 April that it has appointed Hia Shan Shan as general manager for finance with effect from 17 June. Hia, who has been with the unit of developer UOL Group since 2019, received her official upgrade as Kenneth Lee, 54, prepares to step down as head of finance with the company from 17 June. Lee is said to be leaving to pursue other career opportunities.
Jerome Chung has been promoted to managing director for operations with Crane Capital in Hong Kong, according to a LinkedIn update. Chung was promoted after more than three years as director for operations with the unit of the Washington State Investment Board after joining the company from Elite Industrial Holdings in Hong Kong, where he had served as chief operating officer.
Toby Selman has joined ESR in Singapore as chief operating officer for data centres with the Hong Kong-listed developer and fund manager, according to a LinkedIn update. Selman will know be looking after data centres in Australia, Japan, South Korea and India for ESR, after previously spending more than four years as director for external investments and partnerships with the real estate unit of NZ Super Fund in Auckland.
Eishi Koshimura has joined Link Real Estate Partners in Tokyo as head of project management for Japan, according to a LinkedIn update. Koshimura joined the third-party capital management division of Hong Kong’s Link Asset Management after more than 13 years with Australian developer Lendlease in Tokyo as Link expands its Japan presence, including hiring former Nuveen executive Steven Bass as country head.
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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