LENDLEASE Global Commercial Reit’s (Lendlease Global Reit) manager on Tuesday announced that its chairman, Anthony Lombardo, has stepped down to serve as Lendlease group chief executive officer (CEO) and managing director with effect from June 1.
Mr Lombardo, who will remain on the board as a non-executive and non-independent director of the manager, will be replaced with immediate effect by Ng Hsueh Ling.
Ms Ng has been Singapore managing director and Asia chief investment officer at Lendlease since August 2017, and is also the key executive officer of Lendlease Retail.
The manager in its announcement said she is “instrumental in driving the growth of the manager’s business platform” in these roles, where she manages the growth strategy for Asia’s investment management portfolio. This includes creating access and pathways into new funds, Reits (real estate investment trusts) and assets, it added.
Ms Ng was previously CEO and executive director of Keppel Reit’s manager prior to joining Lendlease. Before that she was Ascendas’ CEO for Korea and Japan, and held senior positions at CapitaLand Commercial and CapitaLand Financial.
She has over 29 years of real estate experience across Asia in strategic sourcing, investments and divestments, asset and portfolio management, as well as the development of assets.
Ms Ng holds a Bachelor of Science, Estate Management from the National University of Singapore and is a licensed appraiser by the Inland Revenue Authority of Singapore.
Units of the Reit closed half a Singapore cent or 0.7 per cent lower at S$0.76 on Monday.