CapitaLand to have new group CFO on Jan 1

Mr Andrew Lim was managing director and head of advisory and real estate for South-east Asia at HSBC.
Mr Andrew Lim was managing director and head of advisory and real estate for South-east Asia at HSBC.

Developer CapitaLand will have a new group chief financial officer on Jan 1, the company announced yesterday.

Mr Andrew Lim will take over from Mr Arthur Lang, 44, who has resigned.

Mr Lim, 47, recently resigned from British bank HSBC, where he was managing director and head of advisory and real estate for South-east Asia.

He will report directly to president and group chief executive Lim Ming Yan, who said yesterday: "Andrew brings with him close to 20 years of investment banking and capital management experience in Singapore and internationally."

In his 12 years with HSBC, Mr Andrew Lim focused on mergers and acquisitions, equity capital markets and financial advisory work, among other things.

He handled several high-profile deals, including the sale of APL Logistics to Japanese freight carrier Kintetsu World Express for US$1.2 billion (S$1.7 billion) last year.

Mr Lim Ming Yan thanked Mr Lang "for his invaluable contributions to CapitaLand", adding that he played an instrumental role in several transformation transactions for the group.

Mr Lang expressed his gratitude for the opportunities at the firm.

Bloomberg reported in September that Mr Andrew Lim was leaving HSBC a few months after taking charge of deal-making in the region, which has been slowing down.

It noted on Monday that "CapitaLand has been expanding overseas and boosting its fund management business as the Singapore residential property market continues to slump on government cooling measures".

A version of this article appeared in the print edition of The Straits Times on November 09, 2016, with the headline 'CapitaLand to have new group CFO on Jan 1'. Print Edition | Subscribe