ING Real Estate has appointed Richard Price as CEO of its Asian investment management business. He is replacing Robert Lie, who left the firm in April to join Redevco Asia.
Price has been with ING Real Estate since 1996, when he joined the firm as a country manager for China based in Beijing. Most recently Price worked for ING Real Estate in New York as a member of the global marketing group and US management committee, where he had responsibility for marketing and client service for the company’s international (non-US) institutional clients. Before this he was based in the head office in The Hague as general manager of ING Real Estate’s Asian business and was a member of the company’s global management team.
He has been serving as the interim chief executive officer of the Asian investment management business, and has been a member of its supervisory board and investment committee since 2004.
Price is fluent in Mandarin Chinese, and he is a co-founder and member of the board of the China US Real Estate Council, where he currently serves as president. He will be located in ING Real Estate’s Hong Kong office and will become a member of the global management team for ING Real Estate Investment Management.
The past few months have seen a number of personnel moves in ING's Asia offices. Apart from Lie's departure in April, the firm hired a new SouthEast Asia head, Leong Chi Meng, in May. Meng will be based in Singapore and serve as country manager for Singapore and South East Asia. In April, ING hired Dick Popken, senior portfolio manager for Asia Pacific real estate at PGGM Investments, as the new head of its multi-fund management business in Asia.