Senior execs leave Colliers for Knight Frank

Singapore

THE exodus of executives at Colliers International Singapore has continued this week. This time, senior executives in its industrial services team including the division head are leaving for a rival firm.

Colliers' executive director and head of industrial services Tan Boon Leong, three other senior executives and one support staff are joining Knight Frank Singapore. This leaves Colliers with two industrial brokers. Meanwhile, Knight Frank's industrial department will increase significantly to 11 executives, comprising nine brokers and two administrative staff with Mr Tan helming the team.

Their official starting date at Knight Frank is not confirmed yet. But sources told BT that Mr Tan is expected to join Knight Frank in March after two months of gardening leave. He will be reporting to Knight Frank Singapore group managing director Danny Yeo.

An internal memo to employees announcing the changes was sent out by Knight Frank at 5.30pm on Friday, saying that this "complements with Knight Frank Singapore's growth strategy in the industrial services space".

Colliers' strengths are traditionally seen to be in industrial services and valuation. But last June, five industrial brokers from Colliers Singapore, including executive directors Brenda Ong and Rimon Ambarchi, jumped ship to CBRE. Its former managing director Dennis Yeo later joined CBRE as regional head of industrial and logistics services in Asia. A team of eight experienced valuers including Colliers' head of valuation and deputy managing director Cynthia Ng has moved to Savills Singapore.

Colliers Singapore managing director Tang Wei Leng told BT that Colliers' focus is in a full range of consultancy services ranging from occupier services, capital markets, valuation and property management.

The industrial services division, part of occupier services, has been "non-performing" in the last two years, according to Ms Tang. "As we realign our businesses for profitability and growth, some staff may feel uncomfortable with the elevated expectations and we respect that and their decisions to move on," she added.

Michael Bowens, who has been director of Colliers Singapore's corporate solutions for the past four years, will assume the responsibilities of the industrial services team.

"He will rebuild the team, in line with Colliers' business strategy and he will reach out to clients to ensure continuity," said Ms Tang. Prior to his stint in Singapore, Mr Bowens had spent seven years with Colliers' industrial team in Shanghai.

Colliers International has become a poaching ground since last year. All three directors of its office services team joined Savills Singapore last February, and four members of its retail team hopped over to JLL's retail agency team in June.

This week, one of its deputy managing directors Calvin Yeo and head of investment service Stella Hoh also left the company.