A new chairman for one of Singapore’s largest developers leads this week’s review of personnel moves in Asia’s real estate industry, as a dynasty moves into a new generation. Also in the news is a future CEO for an Indian developer’s hospitality unit and a startup asset manager covering Hong Kong and Tokyo.
SGX-listed developer UOL announced on 27 February that it appointed Wee Ee Lim as its chairman with effect from that day. Wee, who had previously served as deputy chairman as well as having been a non-executive, non-independent director on UOL’s board, is the son of the company’s late chairman Wee Cho Yaw, who passed away on 3 February. In a statement, UOL said that Wee, 62, was appointed after a review of his experience, skillset and contributions to the group.
India’s DB Realty announced on 1 March that it has appointed Rahul Pandit as president, executive director and senior management personnel of its hotel division, as it prepares to spin off the hospitality business into a separate listed entity. DB, which wholly owns Goan Hotels and Realty, controls BD and P Hotels and has a stake in Bamboo Hotel and Global Centre, said that Pandit will be appointed as managing director and CEO of the listed hotel entity, contingent on the success of the spin-off. Pandit had served as head of Blackstone’s Horizon Industrial Parks from 2021 through late last year.
Angel Li announced this past week that she has teamed up with Ryuta Ueda to establish Avatar Capital Partners, an alternative asset management firm focused on real asset investment. Li and Ueda both left senior roles with Macquarie Asset Management late last year, with Li having served as managing director and head of Asia real estate since 2021 while Ueda was a managing director heading the company’s real estate division for Japan. Avatar Capital has established strategies targetting real estate, distressed opportunities, special situations and impact investing.
Mainland sovereign fund China Investment Corporation announced on 26 February that it has appointed Liu Haoling as vice-chairman, president and chief investment officer, confirming media reports from January. Liu, who has been with CIC for 16 years, had been serving as executive vice president and chief risk officer. CIC has been led by chairman Peng Chun since 2019 with Liu taking over roles formerly held by Ju Weimin, who is leaving the organisation.
Chen Wei has assumed the role of executive director on the board of mainland developer China Resources Land from 1 March, according to an announcement to the Hong Kong stock exchange on 1 March. Now 39, Chen is also joining the executive committee of the state-run giant and has been with China Resources Land since 2020. Prior to joining the Shenzhen-based firm, Chen had served in senior roles with Sino-Ocean Land Holdings including general manager of development management.
JLL announced this past week that it has hired former Morgan Stanley executive director Pei Wang as an executive director with its equity advisory team in Hong Kong. Wang spent more than 11 years with Morgan Stanley in Hong Kong and in her most recent role was responsible for real estate investment banking where she advised real estate, property management and proptech firms on capital markets and M&A transactions. In her new position she will be advising JLL clients on fund raising, equity placements and M&A.
Tokyo-based Drew Huffman has been promoted to senior managing director with Hines, according to a LinkedIn update. Having spent nearly 13 years with the US developer and fund manager, Huffman has been based in Japan with Hines since 2020, where he served most recently as a managing director. In his role the University of Southern California graduate is responsible for acquisitions, development and operations in Japan and South Korea.
Fund management software specialist Juniper Square announced on 27 February that it has promoted Brandon Sedloff to chief real estate officer. In his new role Sedloff is tasked with leading the continuing growth of the San Francisco-based company as it continues to expand its largest division, including its Asia Pacific business. Formerly global head of corporate development with the Urban Land Institute, Sedloff joined Juniper Square in 2016 and had previously served as a managing director.
Samit Chopra has joined JP Morgan Chase in Singapore as managing director for Asia Pacific with the company’s global real estate division, according to a LinkedIn update. Chopra took on his new role late last month after having previously served as president and chief operating officer for international with WeWork in London, where he was responsible for the EMEA and Pacific regions. Prior to joining WeWork, Chopra spent just over a year with flexible office giant IWG in Singapore and also has previous experience with JLL.
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.
Leave a Reply