Southeast Asia’s biggest property developer CapitaLand has appointed Arthur Lang as its new Group Chief Financial Officer (CFO), starting mid-September.
Lang, who is currently Co-Head of Investment Banking in Southeast Asia at Morgan Stanley, will replace Oliver Lim, who has served as CapitaLand’s Group CFO since July 2005. Lim will take on a new post as Head of Strategic Corporate Development (including Mergers & Acquisitions).
“We are always rotating our top business talents to different business positions for them to gain exposure and experience. At the same time we are continually scouting for senior management talent to expand the present strong management bench strength with fresh talent and varied skill sets,” said Liew Mun Leong, President and CEO of CapitaLand Group.
“This is important in order to support the Group’s international footprint and growth opportunities.”
Lang’s strong credentials will likely benefit CapitaLand. Since 1996, he has been with Singapore’s investment banking division at Morgan Stanley. He also worked for almost two years in Hong Kong as the department’s Chief Operating Officer for Asia Pacific ex-Japan.
Meanwhile, Lim will continue to advise the Group on overall capital management activities during the transition period and will be working closely with Lang to ensure his smooth transition to the role of CFO. He will also concurrently hold the position of non-executive Chairman of Australand Holdings Limited, a listed subsidiary of CapitaLand in Australia.
“After six years as Group CFO, and in particular having had the privilege of helping to successfully steer the Group’s financial position and capital management initiatives during a period of rapid expansion and the Global Financial Crisis, it is timely to make this transition as part of our ongoing succession planning and talent management,” Lim said.
“We are pleased to have someone of Arthur’s calibre and experience joining CapitaLand. I look forward to working with Arthur and my other colleagues to continue to build CapitaLand’s business.”
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