A top level change at a North American pension fund manager leads this week’s collection of personnel moves from around the region with a board shift at China Resources Land also making the list. Manulife US Real Estate Investment Trust in Singapore also has a new director and the head of Singapore’s Surbana Jurong Capital has left the shop to launch a new venture.
The world’s 11th-largest pension fund by assets under management is on the lookout for a new chief investment officer with the Californian Public Employees Retirement System – better known as CalPERS – saying earlier this month that Nicole Musicco is leaving her post as of 29 September. Musicco, who joined CalPERS in the spring of 2022 is stepping down to spend more time with her family in Toronto, the institution said in a release. Deputy chief investment officer Dan Bienvenue will serve in an interim capacity while CalPERS searches for a new CIO.
China Resources Land said on 19 September that Liu Xiaoyong (pictured) stepped down as a non-executive director on the board of the state-owned developer from that same date. Liu is retiring from China Resources, one of mainland China’s largest conglomerates, and his spot on the board is being taken over by Huang Ting, age 54, who has been with China Resources Group since 1992 and will also join the developer’s audit committee.
SGX-listed Manulife US Real Estate Management Pte Ltd, the manager of Manulife US Real Estate Investment Trust, announced on 18 March that it has appointed Marc Lawrence Feliciano as a non-executive director with effect from that same date. Based in Chicago, Feliciano has served as head of global real estate for Manulife Investment Management since February of last year after previously working as chief investment officer for Americas real estate with Deutsche Bank’s investment management affiliate DWS.
Hong Kong-listed Mingfa Group (International) said on 18 September that Liu Yuwei has resigned as an executive director of the company as of that same date to devote more time to other business engagements. Liu had joined the Nanjing-based developer in 2019 – the year after Mingfa had become just the second mainland builder to default on an offshore bond (after Kaisa Group Holdings in 2014).
Yee Ean Pang has left his role as chief executive officer of Surbana Jurong Capital in Singapore to found Urbina Capital in the city-state where he will serve as a director, according to a LinkedIn update. Urbina is dedicated to mobilising investment to develop social and economic infrastructure to improve quality of life, according to Pang. Prior to setting up Urbina, Pang had been with Surbana Jurong Capital since May 2020 and also has previous experience with China’s Asian Infrastructure Investment Bank (AIIB).
Laurent Lin has joined Goodman Group in Shanghai as a deputy managing director, according to a LinkedIn update. An industrial specialist, Goodman Group has more than $54 billion in assets under management globally and has been building its China presence since 2001. Lin joins the Goodman team after nearly a decade with Gaw Capital Partners in Shanghai, where he served most recently as deputy managing director for investment.
M&G Investments said this past week that it has appointed Elaine Cheung as chief of risk and compliance for Asia Pacific. Cheung will take up her new post from 9 October and joins the UK asset manager in its Singapore office from Janus Henderson Investors, where she had served as head of risk and compliance for Asia Pacific since August 2019. Cheung also has experience with Ashmore, Pimco and BlackRock.
James Cheo has been promoted to chief investment officer for Southeast Asia and India with the global private banking and wealth management division of HSBC, where he holds the rank of managing director, according to a LinkedIn update. The move adds India to the Southeast Asia territory that Cheo has been covering since February 2021. Based in Singapore, Cheo has been with HSBC since 2019.
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.