Personnel moves in Hong Kong, Singapore and Tokyo lead this week’s review of job changes from across Asia’s real estate industry, with Jardine Matheson taking further turn toward a fund manager identity, Singapore’s Keppel installing a banker in a senior board role and the parent company of Japan’s 7-Eleven chooses a new leader in the midst of a takeover battle
Jardine Matheson announced on 29 May that it has appointed PAG partner Lincoln Pan as its new chief executive officer with effect from 1 December. Pan, who served as co-head of PAG’s private equity strategy until last month, will be taking over leadership of the nearly 200 year old conglomerate from John Witt, who will be retiring. Jardine Matheson is appointing the private equity executive to its top role just a half year after the group chose former Mapletree Investments executive Michael Smith to lead its Hongkong Land real estate division in an effort to transform the developer into a manager of third party capital.
Keppel Ltd informed the Singapore stock exchange on 29 May that it has named Piyush Gupta as its deputy chairman with the veteran banker also taking a seat as a non-executive, independent director on the company’s board. Gupta joins the leadership of the Temasek Holdings-controlled investment firm after having served as chief executive of Temasek-controlled bank DBS Group Holdings from 2009 through March of this year.
Japan’s Seven & i Holdings Co said on 27 May that it has approved the appointment of Stephen Hayes Dacus as the new chief executive of the operator of 7-Eleven. With the move Dacus becomes the first foreigner to lead the Japanese convenience store chain. Dacus, whose mother is Japanese, joined Seven & I earlier this year as the company has been the target of a takeover attempt by Canada’s Alimentation Couche-Tard.
The managers of CDL Hospitality Trusts notified the SGX on 30 May that it would be appointing Mandy Koo as chief investment officer with effect from 1 June. Now 45, Koo takes on the leadership role with the stapled trust sponsored by Singapore developer City Developments Ltd after working as head of investments and investor relations for the managers of the stapled trust since 2019. From 2013 through 2018 Koo had worked as vice president for investments and investor relations with the managers.
With Lincoln Pan taking on a new role with Jardine Matheson, private equity firm PAG said on 29 May that it has appointed Nikhil Srivastava as co-head of private equity. Srivastava joined PAG in Mumbai in 2019 from KKR and had been serving as partner and head of India private equity. During his time at the firm led by Shan Weijian, Srivastava has led deals including the acquisition and later public listing of investment firm Nuvama Wealth Management and packaging company Manjushree Technopack, according to a statement from PAG.
Alex Li has joined ESR in Hong Kong as director of leasing and business development, according to a LinkedIn update. The veteran China shed specialist took on his new role in May after nearly a decade with LaSalle Investment Management in Shanghai, where he had served most recently as managing director for logistics business development and leasing with the fund management unit of JLL. Li also has previous experience with Goodman and Savills.
Japan’s Global One Real Estate Investment Corp notified the Tokyo stock exchange on 27 May that it has appointed Kenichi Ochiai as a director on its board on a part-time basis. The REIT sponsored by insurer Meiji Yasuda, Mitsubishi UFJ Trust and Banking and railway holding company Kintetsu Group Holdings noted that Ochiai has worked as general manager for corporate strategy and planning with Kintetsu Group Holdings since November after first joining the company in 2001.
A-Living Smart City Services Co announced to the Hong Kong stock exchange on 28 May that it appointed Wang Haiyang as an executive director on its board at the company’s annual general meeting held that day. Now 54, Wang is a senior vice president of Agile Group Holdings, the sponsor of A-Living, and currently has primary responsibility for management of the company’s audit centre after joining Agile in 2011.
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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