Martin Seol, a managing director and head of acquisitions for real estate at Merrill Lynch in Asia Pacific, has been appointed permanent head of the firm’s real estate business.
The appointment follows the departure of Tim Grady at the beginning of the month.
Seol will report to Doug Sesler, head of global principal investments, who is based in New York. He has assumed the day to day leadership of Merrill Lynch’s Asian Real Estate Opportunities Fund which closed on $2.65 billion of equity last October.
He will lead a team of approximately 60 real estate professionals which manage the assets purchased by the fund, predominantly in China, India, Japan and Korea.
He is currently based in Singapore.