After a year of good behaviour some of Asia’s most senior real estate executives are getting new jobs for Christmas, leading with the head of China’s CITIC Group, who has been called to lead the country’s Forex regulator. Also making the nice list is the CFO of India’s DLF and a Singapore-based managing director with AEW.
CITIC Group vice chairman and president Zhu Hexin has been appointed head of China’s State Administration of Foreign Exchange (SAFE) according to an official announcement on 8 December. The 55-year-old former head of China’s oldest state-run investment group will now be running the country’s foreign exchange regulator and has also been named a deputy governor of the central bank.
Indian developer DLF announced this past week that Vivek Anand, the company’s chief financial officer, has resigned and will be leaving the company in February. With Anand’s departure, managing director Ashok Kumar Tyagi, who has been overseeing corporate finance, will take on additional responsibilities for group finance, information technology and secretarial functions, the company said. Anand is leaving to pursue other opportunities after four years at DLF.
AEW managing director Tanya Do said this past week that she is retiring after 28 years in the industry. Do, who has been at AEW for just under four years, is also chief operating officer for the firm’s Asia Pacific core strategy and a senior portfolio manager. Do said in a statement on LinkedIn that she will be moving back to Australia with her family and looks forward to having more time available.
Joy City Property announced to the Hong Kong stock exchange on 10 December that it has appointed Yao Changlin as an executive director and general manager of the company with effect from 11 December. Now 55, Yao has been deputy general manager of the company since 2013 and steps into the top executive role at the mainland China commercial developer as Cao Ronggen retires due to his age.
Having just last month begun implementing a restructuring of $9 billion in offshore debt, mainland developer Sunac China Holdings appears to be preparing for a new generation of leadership. According to local news reports this past week, Sun Zheyi, the eldest son of Sunac chairman Sun Hongbin has been appointed president of the company’s Beijing business. Now 33, the younger Sun had first joined Sunac in 2014, after graduating from Boston College in 2011. He was appointed to the developer’s board in 2017.
Spring Real Estate Investment Trust said on 12 December that it is appointing Tong Shumeng as an independent, non-executive director on the Hong Kong-listed REIT’s board from 1 January. Now 51, Tong has spent the last five years as an advocate for ESG issues. As a founding member of the China Carbon Neutral 50-Person Forum, Tong focuses on issues of new energy, the environment and reducing carbon impact.
Tuck Terado has joined Keppel Capital Japan this month as head of asset management, according to a LinkedIn update. A graduate of Tokyo’s Chuo University, Terado took on his new role with the Japanese fund management unit of Singapore’s Keppel Corporation after nearly 14 years with Idera Capital Management, a local fund manager which was acquired by Shanghai-based Fosun International in 2014.
Liam Owens has been appointed head of business development for The Executive Centre in Japan, effective from 1 January 2024, company representatives have informed Mingtiandi. The one-time professional rugby player has now been with the flexible office operator since 2019 and takes on his new Tokyo-based role this month after serving for a year and a half as an associate director for business development covering Asia Pacific, Europe, the Middle East and Africa with The Executive Centre.
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.
