The following announcement was issued today to a Regulatory Information Service approved by the Financial Conduct Authority in the United Kingdom.
HONGKONG LAND ANNOUNCES NEW LEADERSHIP APPOINTMENT WITH MICHAEL SMITH TO SUCCEED ROBERT WONG AS CHIEF EXECUTIVE
21st November 2023 - Michael Smith has been appointed Chief Executive of Hongkong Land Holdings Limited with effect from 1st April 2024. He will succeed Robert Wong who has been the Chief Executive of Hongkong Land since 2016.
Michael is currently the Regional Chief Executive Officer of Europe and the US at Mapletree Investments, a global real estate development, investment, capital and property management company with over US$55 billion of assets under management, headquartered in Singapore.
During his nearly seven years at Mapletree, Michael has been responsible for growing the group's new and existing businesses in Europe and the US, and accountable for overall operating performance. Under Michael's leadership, the Europe and US portfolio has grown to account for over a third of the group's assets under management, across diversified asset classes including logistics, data centres, business parks and student housing. In addition to building scale, Michael has been responsible for monetising assets into public and private vehicles, while leading a large team of professionals across multiple jurisdictions.
Prior to joining Mapletree, Michael was a Partner at Goldman Sachs, and led the bank's Southeast Asia investment banking, as well as Asia Pacific (ex-Japan) real estate businesses. Altogether, Michael brings 30 years of real estate, capital markets and investment banking experience.
Ben Keswick, Chairman of Hongkong Land Holdings Limited, said, "I am delighted to welcome Michael to Hongkong Land. Michael brings a proven track record in real estate investment and capital allocation. He has grown organisations by being an inspirational and caring people leader. Building on Hongkong Land's pre-eminent capabilities, reputation and portfolio, I have every confidence Michael will evolve our business - ensuring we continue to invest, manage and develop prime commercial, retail and mixed-use assets, while at the same time, positioning the Group for long-term sustainable growth in China and other key Asian markets."
"I would like to thank Robert for his over 38 years of outstanding service to Hongkong Land. Robert has been instrumental to the development and execution of Hongkong Land's mainland China strategy since the early 1990s. As Chief Executive for the past seven years, Robert has enhanced the Group's Central portfolio in Hong Kong ensuring it remains the pre-eminent office, luxury retail, restaurant, and hotel accommodation destination in the heart of the city. He has also continued the Group's strategic focus to develop, grow and hold prime commercial and luxury retail properties, including the US$3.3 billion mixed-use investment in West Bund, Shanghai which is currently under development. Our strategic investments in mainland China will be integral to Hongkong Land's next phase of growth and value creation. Finally, Robert has led the charge to embed sustainability into the way in which we operate and make decisions at Hongkong Land."
Robert will retire from his role as Chief Executive on 31st March 2024. Robert will continue as a senior advisor to ensure a smooth leadership transition. Michael will relocate to Hong Kong with his wife and children.
Michael Smith has held a directorship in the following listed company in the past five years:
Mapletree Industrial Trust Management Ltd., as Manager of the Mapletree Industrial Trust
15th December 2019 to date
No further information is required to be disclosed in respect of Michael Smith's appointment pursuant to 9.6.13R of the Listing Rules of the UK Listing Authority.
Hongkong Land is a major listed property investment, management and development group. The Group owns and manages more than 850,000 sq. m. of prime office and luxury retail assets in key Asian cities, principally Hong Kong, Singapore, Beijing and Jakarta. Its properties hold industry leading green building certifications and attract the world's foremost companies and luxury brands. The Group also has a number of high-quality residential, commercial and mixed-use projects under development in cities across China and Southeast Asia, including a 43% interest in a 1.1 million sq. m. mixed-use project in West Bund, Shanghai. Its subsidiary, MCL Land, is a well-established residential developer in Singapore.
Hongkong Land Holdings Limited is incorporated in Bermuda and has a primary listing in the standard segment of the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group's assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group.
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