This week’s overview of personnel changes from around the region starts out with a pair of quick departures from a defaulting Vietnamese real estate developer. Also making our list is a new director at a casino operators, an expanded role for a top PGIM executive and a new head of finance at a Singaporean builder.
Vietnamese real estate developer Novaland announced on 23 May that its chief financial officer, Nguyen Duc Dung (pictured) has resigned from his duties at the company effective that same day. Nguyen had been with the Ho Chi Minh City-based company since 2018 before being promoted to CFO in December 2021. Nguyen’s resignation comes after Novaland has repeatedly defaulted on debts, with Nguyen Tran Dang Phuoc, an executive director on Novaland’s board (no relation to Nguyen Duc Dung) also submitting his resignation notice that same day.
Casino operator MGM China Holdings announced to the Hong Kong stock exchange on 25 May that it has appointed Jeny Lau as an executive director on its board with effect from that same day. Now 64, Lau has been chief operating officer of Grand Paradise Group (HK) Limited, a private family office led by MGM China director and casino heiress Pansy Ho, since 2015. She joined the board at the time of MGM China’s annual general meeting, with Chen Yau Wong stepping down as an executive director at the same juncture.
PGIM Real Estate said on 18 May that it has promoted Jamie Shen to head of its agriculture division globally. Shen, who already serves as chief investment officer and head of PGIM Real Estate’s agriculture equity business will be taking over her new additional duties from Jess Jarratt, the company’s current head of agriculture, on 1 October with Jarratt set to retire from the Prudential affiliate at the end of this year.
Ho Bee Land announced on 23 May that it has appointed Li Xiangrun as its new head of finance, replacing Josephine Lee Woan Chiou, who resigned from the company in April and left her duties earlier this month. Li joins the Singaporean developer from BNP Paribas Singapore, where he had worked since 2014, including serving most recently as director of real estate investment banking for Asia Pacific with the French financial giant.
Shui On Land posted notice on the Hong Kong stock exchange on 24 May that David J Shaw has retired from his role as an independent, non-executive director effective from that same day. Shaw, now 73, who had also served as a member of the audit committee for the Hong Kong-listed developer had been on Shui On’s board since 2006. Prior to taking on his duties with Shui On, Shaw had served as an advisor to HSBC and as a partner at law firm Norton Rose.
Colliers said on 24 May that it has hired Teo Junrong as director of hotels and leisure for Asia, effective from that same date. Teo is responsible for driving investment sales and advisory services for the company’s hotels and leisure business in Asia, Colliers said in a statement. He joins the company after just under a year as vice president for investment and asset management with CapitaLand Ascott Trust Management, and previously had served nine years with CBRE in Singapore and London.
Martin Chavez has joined Boehringer Ingelheim in Shanghai as regional head of real estate and facility management for Asia Pacific at the German pharmaceutical giant, according to a LinkedIn update. Chavez joins Boehringer Ingelheim after a long career with international property brokerages in China, including spending the past five years at Colliers in Shanghai where he served as senior director and head of the China hub for enterprise clients in Asia Pacific for the company.
Ivy Tai has been promoted to senior director with CBRE in Hong Kong, according to a LinkedIn update. The Chinese University of Hong Kong graduate is taking her step up after more than four years with the commercial leasing team at CBRE in the city, and has now been with the US property consulting firm for more than 12 years, including earlier serving as an associate director with the same team.
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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