A corporate bail-out drives the top item in Mingtiandi’s collection of personnel news this week as the rescue of mainland appliance retailer Suning has resulted in the company founder being replaced by an Alibaba executive.
Also in the news, mainland development giant Poly has its first new boss in more than a decade, and there are also executive moves at Savills, CIC, JLL and more.
Weeks after getting a bail out from an Alibaba-led set of mainland retail giants and the Jiangsu provincial government, Chinese appliance retailer Suning has appointed Peter Huang Ming-Tuan as its new chairman, according to a company announcement. Currently also serving as chairman of Alibaba controlled Sun Art Retail, Huang takes over from Suning founder Zhang Jindong who became honorary chairman in July after a $1.4 billion rescue package was arranged for the insolvent retailer. Haier, Midea, TCL and Xiaomi also joined Alibaba in the bailout.
Shanghai-listed Poly Developments and Holdings Co has named Liu Ping as its new chairman as its long-time leader Song Guangju retires. Now 52, Liu has served as general manager and director with the mainland development giant since 2016 and has also headed the company’s Beijing business. Song, who has served as chair of the state-run development giant since 2010 is retiring due to mandatory age limits, the company said in an announcement to the Shanghai stock exchange.
Savills has named Ted Li as head of investment for northern China, according to a company announcement on WeChat this past week. Li joins Savills from Newmark Knight Frank, where he had been a senior managing director with the North American affiliate of London-based Knight Frank, working from their Toronto office. The University of Queensland graduate also has previous experience with Colliers International in Canada, as well as with Cushman & Wakefield in London and Beijing.
Nono (Yilun) Zhang has joined China Investment Corporation (CIC) as a vice president for real estate investment based in Beijing. Zhang joins the mainland sovereign wealth fund after spending less than two years with a Beijing-based family office and also logged more than two years in a private equity real estate role with Cindat Capital Management Ltd in New York City. The graduate of Atlanta’s Emory University also has experience with Ernst & Young.
Stanley YS Leung has joined JLL in Hong Kong as head of asset management, according to a LinkedIn update. Leung joins the property consultancy from DBS Bank, where he had served for less than a year as an assistant vice president. The graduate of Hong Kong Polytechnic University also has experience with developer GT Land Holdings in mainland China, as well as with Sun Hung Kai.
Brenda Chua has joined Knight Frank Asia Pacific as director for corporate real estate, based in Singapore, according to the company. In her new role, Chua will be responsible for developing solutions for corporate occupiers’ real estate outsourcing needs. Formerly with Cushman & Wakefield and JLL in the city, Chua now has 10 years’ experience in real estate, working with occupiers in industries ranging from technology to aviation.
Jessica Wan has been promoted to director and head of Shanghai with design firm Space Matrix, according to a LinkedIn update. In her new role, Wan will take top level profit and loss responsibility for the company’s Shanghai operation just less than three years after joining the firm through its acquisition of rival Muraya. The graduate of Sweden’s University of Gothenburg also has previous experience with tech firm P1.com.
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.