Asia Real Estate People in the News 2024-03-25

Asia Real Estate People in the News 2024-03-25

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The latest top-level change at a Canadian pension fund manager leads this week’s roundup of personnel moves in the real estate industry, with reports from the US indicating that new leadership is on the way at Canada’s CPPIB. Also making the list is a report of an upcoming promotion at JP Morgan and an upgrade at Invesco Real Estate in Hong Kong.

Peter Ballon CPPIBManagement churn continues to roil Canada’s pension fund universe with reports emerging this past week that Peter Ballon will be stepping down as global head of real estate for the Canadian Pension Plan Investment Board. Ballon is set to depart from CPPIB this summer, according to a report by CoStar citing representatives of the Canadian organisation, with the change in leadership at the $435 billion fund set to follow similar changes at Caisse de dépôt et placement du Québec (CDPQ) and Ontario Teachers’ Pension Plan. CPPIB has yet to make an official announcement of the change and no successor has been named.

Rita Chan of JP MorganJP Morgan’s head of consumer and retail investment banking for Asia, Rita Chan, could be set for an upgrade, with Bloomberg reporting this past week that the former Goldman Sachs executive is in line to be named senior country officer for China at her company. Chan joined JP Morgan in Hong Kong during 2020 as head of real estate investment banking for Asia before moving into her current role last year.

Shau Choong KongShau Choong Kong has been named head of private markets finance for Asia at Invesco Global Real Estate Asia Pacific, according to a LinkedIn update. Based in Hong Kong, Kong took his step up this month after more than 13 years with Invesco, where he served most recently as senior director and head of fund accounting. The Universiti Putra Malaysia graduate also has previous experience with AIG and KPMG.

Albert Chow CKCK Asset Holdings announced to the Hong Kong stock exchange on 21 March that Albert Chow Nin Mow will retire from his role as an independent, non-executive director with the company from 23 May. Now 74, Chow had served as an executive director and later deputy managing director with Cheung Kong Holdings, one of the predecessors of CK Asset, from 1983 through 1997, as well as serving as an executive director of Li Ka-shing’s Hutchison Whampoa from 1984 through 1997. He has been an independent, non-executive director with CK Asset since 2015.

Marina Wong Yu Pok KerryKerry Properties Ltd notified the Hong Kong stock exchange on 20 March that Marina Wong Yu Pok will be stepping down from her role as an independent, non-executive director of the company at the time of its annual general meeting on 20 May. Before joining Kerry’s board in 2008, Wong spent over 30 years at PriceWaterHouse Coopers where she specialised in tax and business advisory services relevant to the China market.

Wu Wende GreentownGreentown China Holdings posted notice to the Hong Kong bourse on 22 March that Wu Wende stepped down from his role as an executive director with the Hangzhou-based builder with effect from that same day. Now 59, Wu spent much of his career with China Communications Construction Company (CCCC) before joining Greentown following CCCC’s buyout of the developer. Wu had been on Greentown’s board since 2021 and is being replaced by Zhou Changjiang.

Madhavan-STLMumbai-based conglomerate Welspun Group informed the BSE recently that Subramanian Madhavan will be joining its board from 1 April as a non-executive, independent director for a term of four years. Welspun, which in December sold a warehouse near Gurugram to Singapore’s Mapletree, has appointed Madhavan, now 67, to its board after he served for several years as a partner with PriceWaterhouse Coopers.

Melody Davidovic HinesMelody Davidovic has been promoted to senior marketing and communications manager with Hines in Hong Kong, according to a LinkedIn update. Davidovic earns her upgrade after just under two years as a marketing and communications manager with the Houston-based developer and fund manager. The National University of Singapore graduate also has previous experience with Langham Hospitality Group.

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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