Hongkong Land appoints Mapletree Investments executive as new CEO

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Tan Nai Lun

Published Tue, Nov 21, 2023 · 06:35 PM

Michael Smith will relocate to Hong Kong to take on the role of CEO of Hongkong Land with effect from Apr 1, 2024.. PHOTO: AFP

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PROPERTY player Hongkong Land has appointed Michael Smith – the current regional chief executive officer of Europe and the US at Mapletree Investments – as its new CEO.

Smith will be appointed with effect from Apr 1, 2024, and will be relocating to Hong Kong for the role.

He succeeds Robert Wong, who has been the CEO of Hongkong Land since 2016, the company said on Tuesday (Nov 21).

The company noted that Smith has 30 years of experience in real estate, capital markets and investment banking.

Prior to joining Mapletree Investments, he was a partner at Goldman Sachs, leading the bank’s South-east Asia investment banking and Asia-Pacific (ex-Japan) real estate businesses.

During his time at Mapletree Investments, Smith was responsible for growing the group’s new and existing businesses in Europe and the US, and was accountable for overall operating performance.

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He was also responsible for monetising assets into public and private vehicles, while leading a large team of professionals across multiple jurisdictions.

Ben Keswick, chairman of Hongkong Land, said: “I have every confidence Michael will evolve our business… while at the same time, (position) the group for long-term sustainable growth in China and other key Asian markets.”

He added that Wong had enhanced the group’s central portfolio in Hong Kong as CEO, and continued its strategic focus to develop, grow and hold prime commercial and luxury retail properties.

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The cities will be Chongqing, Chengdu, Wuhan, Shanghai, Nanjing, Hangzhou and Suzhou, Hongkong Land says in a statement on Thursday (Jun 8), adding the new developments will add 280,000 square meters of retail floor space to its China portfolio.

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Wong will retire from his role on Mar 31, 2024, but stay on as a senior adviser to ensure a smooth leadership transition.

Shares of Hongkong Land closed 0.9 per cent or US$0.03 higher at US$3.32 on Tuesday, before the announcement.

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