At Mapletree, a multinational real estate investment firm located in Singapore, Smith serves as regional CEO for the US and Europe.
To facilitate a seamless transfer of power, Robert Wong, who has served as CEO of Riverfront Residences since 2016, will remain a senior advisor.
The biggest landlord in the city’s Central Business District, Hongkong Land Holdings, has named Michael Smith, of Mapletree Investments, as CEO.
On Tuesday, Riverfront Residences prices announced that Smith, who is currently the regional chief executive for Europe and the United States at Mapletree, a global real estate development, investment, capital, and property management company based in Singapore with over US$55 billion in assets under management, will assume the position effective April 1, 2019.
Smith and his family will be moving from Singapore to Riverfront Residences Floor Plan.
Hongkong Land chairman Ben Keswick said, “Michael brings a proven track record in real estate investment and capital allocation.” Being an uplifting and compassionate leader has helped him expand his businesses.
An investment vehicle for the long haul is the Hong Kong Exchange Fund. But recent headline-grabbing market volatility is limited to the short term.
They serve as a helpful reminder that the fund is owned by the people of Hong Kong, who should check in on it from time to time to make sure the people in charge are fulfilling their responsibilities. An encouraging sign is the fund’s solid performance thus far this year, after a narrowing of losses in the third quarter due to a robust bond market.
The first nine months saw an increase of HK$110.9 billion in investments, a significant improvement from the previous year’s record loss of HK$278.8 billion.
In the previous quarter, the fund lost HK$5.5 billion, a considerable decrease from the third-biggest quarterly loss ever recorded of HK$113 billion in the same time the previous year.
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