ARA Trust Management announces new CEO

AS part of succession plans, Yeo See Kiat will be retiring as chief executive and stepping down as executive director of ARA Trust Management while Chan Kong Leong will take over both roles from Jan 1 next year.

ARA Trust Management is the manager of Suntec Real Estate Investment Trust.

John Lim, ARA group CEO, said: "Despite the global financial crisis and the challenging market conditions, Suntec Reit has grown from strength to strength under See Kiat's leadership. During his tenure, See Kiat had executed several large acquisitions, oversaw the successful remaking of Suntec City, and led the Reit's successful expansion into Australia."

Suntec Reit's assets under management have grown from S$2.2 billion at IPO in 2004 to S$9.3 billion today, making it one of the largest Reits listed on the Singapore Exchange.

Mr Chan has been the chief operating officer of ARA Trust Management since June 1. He has previously worked with the CapitaLand Group, where he held senior management positions such as senior vice-president and head of regional investment.