Reports of a brand new head of funding for considered one of Asia’s largest pension funds lead Mingtiandi’s first roundup of personnel strikes for 2023, with Malaysia’s GuocoLand additionally making the listing. Besides these updates, a former Shanghai developer was handed 19 years in jail and there are new administrators at a pair of Singapore REITs.
Korea’s National Pension Service (NPS) has chosen Seo Won-joo as its new chief funding officer, according to local news reports. Seo shall be becoming a member of the pension fund large from the Government Employees Pension Service of Korea (GEPS), the place he has served as chief funding officer since 2019. The graduate of Yonsei University additionally has earlier expertise with Samsung Life Insurance.
GuocoLand announced on 30 December that it has promoted Valerie Wong to managing director for asset administration with impact from 1 January. The transfer provides Wong an improve from her present position as group normal supervisor for asset administration after she took on that title in August 2021. Wong, who has been with the SGX-listed developer since 2014, is predicted to supervise group technique as GuocoLand expands its asset administration enterprise.
A Shanghai courtroom on 30 December sentenced Dai Zhikang, founder and former chairman of Shanghai Zendai Group, to 19 years in jail and a high-quality of RMB 25.5 million for unlawful fund elevating. Dai had been in custody since 2019, when he was arrested following an investigation of a peer-to-peer lending enterprise, Laocaibao, arrange by Zendai Group. Zendai was finest recognized in Shanghai for creating the RMB 3 billion Himalayas Center in Pudong.
Singapore-listed OUE Commercial REIT said on 30 December that Tan Huay Lim has been appointed as an impartial, non-executive director on its board, efficient from 1 January. Now 66, Lim was previously a associate at KPMG Singapore, and since his retirement in 2015 has taken on directorships at companies together with Elite Commercial REIT, Dasin Retail Trust and SF REIT Asset Management.
Prime US REIT announced to the Singapore exchange on 31 December that it has appointed Professor Stephen Phua Lye Huat as an impartial, non-executive director on its board from 1 January. Now 59, Phua is an affiliate professor with the college of regulation at National University of Singapore, the place he additionally serves as tax director with the EW Barker Centre for Law and Business. Phua is becoming a member of the board as Cheng Ai Phing resigns from the physique.
Yuxi Jiang has been promoted to managing director with Bain Capital in Hong Kong, after greater than six years as a director with the non-public fairness fund supervisor. Jiang specialises in non-public credit score and particular conditions in Greater China, and the Peking University graduate additionally has earlier expertise as a vice chairman with Fiera Capital in Hong Kong, as effectively as with German finance large Deutsche Bank.
Gregory Ku has been named head of logistics and industrial with JLL in Hong Kong, according to a LinkedIn update. Ku takes on his new position within the metropolis after one 12 months as a guide with JLL, an organization the place he has labored since 1996. Prior to his consulting position, Ku had served as managing director for Macau with the property consultancy from 2005 to 2022, and in addition had been head of commercial for JLL in Hong Kong from 2002 by means of 2004.
John Kenneth Lee has been promoted to assistant director with AEW in Hong Kong, according to a LinkedIn update. Lee acquired his new identify playing cards on the Boston-based actual property fund supervisor final month after greater than two years as an funding affiliate with the agency. Before becoming a member of AEW in 2020, the graduate of Imperial College London additionally served with Phoenix Property Investors and CBRE in Hong Kong.
If you realize of different Asia actual property professionals altering their jobs, getting promoted or simply doing one thing thrilling, please contact us here at Mingtiandi.