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A senior move in India’s shed world leads this week’s review of personnel changes from around Asia as IndoSpace names a new chief executive. Also making the list are changes at GIC and AIA Group.
India industrial developer and fund manager IndoSpace has appointed Anshuman Singh (pictured) as managing director and chief executive, according to local media reports. Singh previously founded logistics provider Stellar Value Chain Solutions, with IndoSpace last year having appointed company veteran Sharad Gohil as chief executive, following the departure of co-founder and then CEO Brian Oravec in mid-2024. IndoSpace representatives had not responded to inquiries from Mingtiandi by the time of publication.
Singapore’s GIC said on 10 June that
Teo Chee Hean has resigned from its board of directors, and from his position as chairman of the GIC International Advisory Board, with effect from 30 June. A former Deputy Prime Minister of Singapore, Teo has served on GIC’s board for 14 years. The retired politician was named deputy chairman of state investment firm Temasek Holdings on 6 June and will take up that role next month.
Outgoing HSBC Group chairman Mark Tucker is transitioning to a new role more quickly than expected with the veteran finance executive set to rejoin insurer AIA Group as independent, non-executive chairman from 1 October. HSBC had announced Tucker’s retirement on 1 May with an update on 6 June putting a 30 September stop date to his career with the company. In a separate announcement AIA said that Tucker, who had served as the insurer’s CEO and president from 2010 to 2017, would be replacing Edmund Sze-Wing Tse as chairman and also taking over his independent, non-executive director role on the company’s board.
William Li has joined CBRE Investment Management in Shanghai as a director of asset management with the fund management division of CBRE Group, according to a LinkedIn update. Li took on his new role this month after two years as director of asset management with healthcare fund manager CBC Group in Shanghai and also has experience with Blackstone’s DragonCor logistics platform, Logos Group (now part of ESR) and Singapore’s Mapletree Investments.
Singapore law firm Rajah & Tann Asia announced on 14 June the passing of its former managing partner, Patrick Ang. The bankruptcy and restructuring specialist had served as managing partner of the law firm from 2019 through March of this year and had helped to drive the firm’s regional expansion across Southeast Asia. Ang was known for having advised on the bankruptcy of oil trader Hin Leong as well as on the winding up of Lehman Brothers’ Singapore operations during the 2008 financial crisis.
Kuala Lumpur-listed Tower REIT said on 11 June that its chief executive officer, Martin Kung Boon Keat had resigned to pursue other opportunities with effect from the following day. Now 46, Kung had been appointed to the CEO role with the REIT sponsored by developer GuocoLand on 9 December after Kung’s predecessor, Aileen Ewe Foong Yin had resigned from 4 July last year. Ewe had outlasted Kung by a month after having joined the REIT in December of 2023.
German fund manager Union Investment announced last week that it has promoted Karim Esch to chief investment officer of the company, succeeding Martin Bruhl. With the leadership shift set to take effect from 1 July, Esch has been with Union since 2011 with the company also announcing that Kirsten Ludwig will join its management board while being given responsibility for managing the firm’s institutional property funds.
Jaelle Ang, chief executive and co-founder of regional serviced office provider The Great Room, has left the company, according to a LinkedIn update. With the serviced office industry having fallen back to earth following the failed IPO of WeWork in 2019, the Great Room was sold to US-based operator Industrious in 2022. CBRE Group agreed to acquire Industrious in January of this year in a deal which valued the company at $800 million.
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.
