CapitaLand names new CFO

Former HSBC managing director Andrew Lim will take over as CFO from Arthur Lang at the Singaporean property group.

Singapore-headquartered property developer and fund manager CapitaLand has named a replacement for its outgoing chief financial officer.

Andrew Lim, formerly a managing director and head of advisory and real estate for South-east Asia at HSBC, will take on the role on January 1, 2017, replacing Arthur Lang who resigned to “pursue other career interests”, according to a statement from the firm.

As group chief financial officer, Lim, will lead CapitaLand's finance, treasury, tax, risk management and investor relations functions.

Back in late October CapitaLand closed its third China-focused development real estate fund at $1.5 billion. The Raffles City China Investment Partners (RCCIP) III is said to be the largest private fund raised by CapitaLand to date.

Canada Pension Plan Investment Board (CPPIB) is one of the largest investors in RCCIP III. The Canadian investor has invested $375 million for a 25 percent stake in the vehicle.

CapitaLand currently manages 16 real estate private platforms and five real estate investment trusts with over S$45 billion ($32 billion; €29 billion) in assets under management.