A pension fund manager with $800 billion in assets has a new boss with news of the fresh leadership of Korea’s NPS leading Mingtiandi’s personnel column this week. Also making the list are a set of board changes at troubled mainland real estate companies and new executives at KKR and Nuveen.
A new chairman is now in place at South Korea’s National Pension Service (NPS) with Kim Tae-hyun having stepped up to the controls on 2 September. Kim was officially appointed by Korean president Yoon Seok-yeol on Thursday, and is set to preside over the pension fund manager until 31 August 2025. Born in 1966, Kim formerly served as chief executive officer of state-run Korea Deposit Insurance Corp and has also worked for the country’s finance and foreign affairs ministries.
Defaulting real estate developer Shimao Group Holdings announced to the Hong Kong stock exchange on 24 August that it has appointed veteran accountant Andy Fung Tze Wa to its board as an independent, non-executive director, effective that same day. Now 65, Fung replaces Alice Kan Lai Kuen, who resigned as independent, non-executive director from 24 August. Fung will also take over Kan’s roles as chairman of the board’s audit committee and member of the remuneration and nomination committees. PwC had resigned as Shimao Group’s auditor in March.
Aoyuan Healthy Life informed the Hong Kong bourse on 31 August that Zheng Wei had resigned as president and executive director of the property management subsidiary of developer China Aoyuan Group with effect from 1 September. Aoyuan Healthy Life said that Zheng was leaving the company to pursue other business opportunities, with his departure coming just less than three months after Deloitte had resigned as the firm’s auditor. The company now lists Cheng Siu Fai as its sole executive director.
CK Asset Holdings declared to the Hong Kong exchange on 1 September that Colin Stevens Russel, age 82, had retired from his role as an independent, non-executive director with the real estate unit of tycoon Li Ka-shing after more than five years on the company’s board. Russel, who leads Emerging Markets Advisory Services in Hong Kong, also left the boards of CK Infrastructure Holdings and CK Life Sciences on the same day.
Hopson Real Estate said this past week that it has hired Ying Loong Tai to serve as deputy president with the mainland real estate developer where he will oversee its investment and fund management group. Tai will report to Hopson co-president Lucas Loh and joins the company after serving nearly 12 years with PGIM Real Estate where he had worked most recently as executive director and head of Greater China transactions.
JiEun (Jessica) Lee has joined KKR in Seoul, South Korea as a principal, according to a LinkedIn update. Lee took on her new role this month after three and a half years with Gaw Capital Partners in London, where she had served as senior director and head of the fund manager’s UK office. The graduate of Korea’s Yonsei University and New York University also has previous experience with Korea Investment Corporation and Savills.
Mark Cameron has joined Nuveen in Hong Kong as head of sustainability for Asia Pacific, according to a LinkedIn update. Cameron stepped into his new responsibilities last month after nearly six years with JLL in the city, where he had served as head of energy and sustainability for Asia Pacific. The graduate of Glasgow Caledonian University also has previous experience with engineering consultancies Arup and Buro Happold.
Fred Lu is now general manager of North China for Sun Hung Kai Properties, based in Beijing, according to a LinkedIn posting. Lu joined Hong Kong’s largest developer by market capitalisation this month after more than five years with rival Kerry Properties where he also served as a general manager in China’s capital. The graduate of Beijing Institute of Technology and Rutgers University also has previous experience with WeWork, Nielsen and Baidu.
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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