M&G Real Estate has appointed Hyesik Ryu as managing director to lead its business in South Korea.
This is a newly created role and the real estate fund management arm of M&G Investments says that the appointment reflects the strategic internationalisation of its business and commitment to diversifying its portfolio of Asian real estate assets.
Working closely with the real estate fund and asset management teams, Ryu (pictured) will lead the firm's deal sourcing capabilities in South Korea for the Asia property strategy of M&G Real Estate, working with associate director Sanghyuk Lee. Ryu will be responsible for the management and oversight of M&G Real Estate's office in Seoul. He reports to Scott Girard, chief executive of M&G Real Estate Asia.
Ryu has over 18 years of banking and real estate experience in Korea and previously worked for Korea Development Bank, Koramco and Ascendas. Prior to joining M&G Real Estate, he was a director with Hyundai Securities where he managed the project financing, loan structuring and acquisition of real estate assets.
Girard says: "Hyesik's appointment is an important part of our strategic development plan. Korea is a key market for us and Hyesik brings a wealth of market and industry expertise. M&G Real Estate has had a long and successful track record of investing in South Korea and we want to build on this, diversifying our portfolio of real estate assets in Asia so that we continue to deliver investment performance for the growing number of institutional investors allocating to core Asian real estate."