Asia Real Estate People in the News 2024-05-27

India business parks are booming and new leadership CapitaLand’s large footprint office space in the country leads this week’s review of personnel moves from around the region. Also covered this week is a change in command in Kaisa Group’s property management subsidiary and a retirement at the biggest pension fund in the US.

After announcing earlier this month that it will promote its chief executive for India business parks Gauri Shankar Nagabhushanam to chief executive officer of CapitaLand India Trust, CapitaLand Investment said this past week that it has upgraded Sumit Gera to  Nagabhushanam’s former role. Gera has been with CapitaLand in India since 2016, and had served as head of portfolio management for CapitaLand India Trust until taking on his latest role.

Kaisa Prosperity Holdings announced to the Hong Kong stock exchange on 21 May that Kaisa Group chairman Kwok Ying-shing has taken over the chairman and chief executive roles at its property management subsidiary. Kwok’s ascendance means former CEO Mou Zhaohui has stepped down from that role but remains an executive director of the company. Former chairman Liao Chuanqiang is also staying on as an executive director with the changes having taken effect as of 20 May.

The largest pension fund in the US has lost its global head of private debt, according to a Bloomberg account this week citing an internal mail. Jean Hsu has resigned from the California Public Employees’ Retirement System after almost a quarter-century at the institution, without giving a public indication of her future plans. Calpers was managing $12.8 billion under its private debt strategy as of 30 April.

Paul Davis has joined Baker McKenzie in Tokyo where he serves as a counsel with the international law firm’s real estate team. Davis’ LinkedIn profile shows him as a partner-designee at Baker Mac, with the Columbia Law School graduate having previously spent around a year and half as a senior director with the capital markets team at JLL in Tokyo. Davis formerly was a partner with Morrison Foerster in Singapore.

JLL announced this month that it has appointed Lee Tae-ho as its country head for Korea, where he will lead the property consultancy’s business starting from June. Lee joins JLL from CBRE Investment Management (formerly CBRE Global Investors) where he had served as country head for nine years. Earlier, Lee was regional director for capital markets with JLL in Korea. 

Ong Beng Seng’s Hotel Properties Ltd announced to the Singapore stock exchange on 21 May that it has appointed Rahul Goswamy as an independent, non-executive director on its board with effect from that same day. Now 60, Goswamy has served as co-founder and partner of Gateway Partners Group in Singapore and previously was global head of global corporates business with Standard Chartered Bank.

Fantasia Holdings informed the Hong Kong bourse on 24 May that Ke Kasheng has resigned from his role as an executive director with the troubled mainland developer with effect from that same day. Ke, who was responsible for investment, financing and capital operations at Fantasia, had served on the company’s board since 2019 after previously working as president of China Huarong Asset Management.

Jacques Ko has joined Hongkong Land as an asset manager with the London-listed developer, according to a LinkedIn update. Based in Hong Kong, Ko signed up with the developer of Exchange Square and Jardine House after nearly eight years at JLL in the city, where she had served most recently as a director with the tenant representation team after working her way up from graduate trainee.

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.

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