Global logistics real estate firm ESR Cayman has announced changes to its management team, including the transition of group president Charles de Portes, as part of the company’s long-term planning.
Portes, who co-founded the Redwood Group together with Stuart Gibson in 2006 before the firm merged with e-Shang to form ESR, is scheduled to transition from his role from January 1, 2021. He will join the board as a non-executive director and will remain a key shareholder of the firm.
“After 20 years in logistics real estate in Asia, and prior to that in Europe, I have decided that at the end of this year is the right time to transition to non-executive board member,” de Porte said.
He added that the decision to relinquish the role will give him more time to pursue interests in charitable activities.
Other key changes in ESR’s organisation and senior management include the promotions and new hires of key senior executives.
Josh Daitch, who joined ESR in 2018 as senior managing director, has been promoted to group head of Fund Management & Capital. He will lead ESR’s newly merged fund management capital raising function.
The group also announced the appointment of Lilian Lee as its chief corporate officer, overseeing the administration, human resources, and IT functions of the firm. Lee was general manager of HR and Administration at Mapletree Investments before joining ESR.
Thomas Nam, CEO of South Korea, and Philip Pearce, CEO of Australia, will also join the Group Investment Committee, which evaluates all new transactions across ESR’s markets.
ESR board chairman Jeffrey Perlman said the addition of Daitch and Lee further enhance the firm’s leadership team “to deliver the group’s next phase of growth.”
The firm has a logistics portfolio of over 300 assets spanning 17.2 million square metres gross floor area in operation and under development. About 60 per cent of its tenant base consists of e-commerce and third-party logistics (3PL) businesses.
ESR manages funds and investment vehicles backed by investors including Dutch pension fund manager APG, South Korean conglomerate SK Holdings, Chinese e-commerce giant JD.com, Canada’s biggest public pension fund CPP Investments, and Chinese insurer Ping An.