Ongoing investigations lead today’s roundup of personnel moves from around the region and have already caused some leadership changes in China and India, as Tahoe Group announces that its chairman is no longer in command of operations, and Indiabulls Finance reacts to the fallout of a recent regulatory raid in Mumbai.
There are also new top level moves at the HKEX and Hermitage Capital along with fresh announcements from JLL and CapitaLand.
Troubled mainland developer Tahoe Group announced this past week that its chairman, Huang Qisen, is assisting authorities with an investigation. The statement, which aligns with similar announcement in the past by companies whose executives have been detained by police, expressed hope that Huang would soon be able to resume his duties with the group, which has defaulted on a series of credit obligations since 2019. Mainland media reported on 18 March that Tahoe chief financial officer Huang Xi and Lin Wenhua, a vice president with the group, had both been detained to assist with an investigation.
Indiabulls Group founder Sameer Gehlaut resigned from his role as a non-executive director with publicly listed Indiabulls Housing Finance on 14 March, leading to a 6.65 percent jump in the mortgage lender’s shares last week. The firm’s offices in Mumbai had been raided by Indian authorities in late February with a market regulator announcing in early March that it had found instances of non-compliance regarding release of public information by Indiabulls Housing Finance.
Hong Kong Exchanges and Clearing Ltd announced on 17 March that Yang Qiumei has been appointed as a managing director and advisor to the chief executive of the operator of the Hong Kong stock exchange. Yang, who had served most recently as Asia Pacific chief executive for fund management association ICI Global, is returning to the HKEX operator where she had spent 2010 to 2013 as the organisation’s head of mainland development and deputy head of market development. The Peking University graduate also has previous experience with the OECD and with China’s CSRC.
Sandra Wang has signed up with Hermitage Capital in Hong Kong, where she serves as a managing director with the UK-based firm. Wang took on her new role recently after more than four years with Grosvenor Limited in the city, where she had served as a director with responsibilities covering investor relations, capital raising and management of the firm’s joint ventures. The University of Illinois graduate also has experience with Pinnacle Real Estate Capital Partners, UBS and Deutsche Bank Group.
Former news presenter Pamela Amber has joined JLL in Singapore as head of investor intelligence and strategy for Asia Pacific, according to a LinkedIn update. Amber is joining the property consultancy after a 14-year career in journalism, including having spent the last year and a half as a presenter with Channel NewsAsia in Singapore. The graduate of Columbia University’s graduate school of journalism also has previous experience with Forbes, Reuters, and NBC.
Alice Li is now an assistant general manager with Capitaland in Shanghai, having been promoted after nearly six years with the Singapore-based real estate giant. Li is now in charge of operations and leasing for CapitaLand’s Capital Square project near Shanghai railway station in Jing An district. The graduate of Shanghai Jiao Tong University also has previous experience with New World’s K11 division and the UK’s Tesco.
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.