Nicholas Loup, chief executive of Grosvenor Asia Pacific, has decided to move on from the firm in March 2015.
Benjamin Cha has been appointed to succeed him.
Cha will join Grosvenor on 29 September 2014 as managing director, Grosvenor Asia Pacific, and will take up the role of chief executive, Grosvenor Asia Pacific, on 31 March 2015.
Loup has had a 25 year career with Grosvenor, with 20 years dedicated to the Asia Pacific region and, previously, five years with the London headquarters. He will be joining the board of a UK property company with interests in Europe and aspirations in Asia.
Under Loup’s tenure, the Asian business was established in Hong Kong in 1994; operations have since expanded to Tokyo and Shanghai.
Loup says: “We have achieved our goal of operating as a local property company in Hong Kong, Shanghai and Tokyo, and are in the fortunate position of working with first-class partners. In Asia, Grosvenor is well placed to grow its activities through Grosvenor-branded residential developments and commercial developments for medium or long-term ownership.”
Mark Preston, Grosvenor chief executive, says: “I am enormously grateful to Nick Loup for his leadership and commitment over the past two decades, which have been critical to our success in Asia. I am delighted that in Ben Cha we have appointed such an excellent successor and I look forward to working with him. We will remain fully committed to the Asia Pacific region. By leveraging on our past achievements and the strong partnerships we have forged throughout the region, we are in a solid position to continue to expand our Asian presence.”
Cha was previously with UBS Global Asset Management as managing director, head of global real estate Greater China. Prior to UBS, he was with HKR International, a Hong Kong based developer, for 11 years, latterly as an executive director and head of its Asia Pacific business unit. Earlier in his career he was with the Mandarin Oriental Hotel Group. Cha will spend half of a six month handover period in London and half in Asia, where he will be based in Hong Kong.