In this lunar new year edition of People in the News, Mingtiandi brings you a roundup of all the top executives getting a their red packets this holiday season, including industrial veteran Tom Woolhouse, who is taking on a new role in Singapore. Also making our list are senior moves at Hopson Development and Beijing Capital Grand in China.
Singapore-based industrial developer and fund manager Equalbase announced this past week that it has hired Tom Woolhouse as managing director of business development. Woolhouse, who is joining the company’s management board, signed up with the company from JLL in Singapore, where he had served for three years as the property consultancy’s head of logistics and industrial for Asia Pacific. Woolhouse had relocated to Singapore from the UK in 2021 after previously working as a senior director with CBRE’s industrial team in London.
Hopson Development Holdings announced to the stock exchange this past week that Lucas Loh resigned from the company from 31 January for personal reasons. Loh had served as co-president of the Hong Kong-listed mainland developer since 2021, following a long career with Singapore’s CapitaLand, including serving as chief executive officer of the developer and fund manager’s China division from 2014 through 2021. Loh has yet to make a public statement about his future plans.
Beijing Capital Grand Ltd informed the Hong Kong stock exchange on 5 February that Xu Jian, who had been serving as an executive director and chief executive officer of the company would be resigning from 8 February, due to being reassigned to a non-affiliated entity outside the group. Xu had led the outlet mall division of state-owned Beijing Capital Group since October of 2022, after previously serving as president of Beijing Media Corp.
The manager of BHG Retail REIT notified the Singapore stock exchange on 9 February that is has appointed BreadTalk founder and chairman George Quek Meng Tong as an independent, non-executive director on its board, with effect from 11 February. The manager of the listed trust of mainland China retail properties is adding Quek to its board as Ben Yeo Chee Seong retires from the body after serving as an independent, non-executive director since 2015.
The Pennsylvania Public School Employees’ Retirement System (PSERS) announced on 2 February that it has named Brian Lyman as its new chief financial officer, with effect from 26 February. Lyman will be replacing interim CFO Andy Fiscus, who will return to his earlier role as director of investment accounting with the institution, which managed assets of $70.7 billion as of 30 September. Lyman joins PSERS after spending nearly five years as chief accounting officer with Pennsylvania’s Office of the Budget.
SF Supply Chain said on LinkedIn this past week that it has appointed Michael Tung as managing director for Hong Kong and Macau. Tung joins the warehousing and distribution unit of China’s largest delivery service from freight forwarder DB Schenker, where he had spent more than five years in senior management roles. The University of Hong Kong graduate also has previous experience with trading company DKSH.
Sumitomo Mitsui Banking Corporation gave notice on 6 February that it has appointed former Credit Suisse head of China, Carsten Stoehr, as managing director and deputy head of Asia Pacific, based in Singapore. In his new role Stoehr will oversee SMBC’s structured lending and private wealth businesses across the region, reporting to co-heads of Asia Pacific, Yuichi Nishimura and Rajeev Kannan. Stoehr is due to commence his new role on 19 February.
Former China Merchants Bank president Tian Huiyu, has been sentenced to death, with a two-year reprieve, after being convicted of taking bribes, abusing his position and insider trading, according to an account in the China Daily on 5 February. Tian, who holds a masters in public administration from Columbia University in New York, had led the Shenzhen-based bank from 2013 through 2022, when he came under investigation by China’s top anti-graft agency.
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.