Private equity firm BlackRock’s Europe, the Middle East and Africa (EMEA) real estate head Tom Lee has left the firm to pursue other opportunities. Chinese internet firm LeEco’s chief financial officer Wu Lei has left the company amid a financial crisis that the firm is going through.
BlackRock EMEA real estate head leaves
Private equity firm BlackRock’s Europe, the Middle East and Africa (EMEA) real estate head Tom Lee has left the firm earlier this year to pursue other opportunities.
“Tom Lee has left BlackRock to pursue other opportunities. We wish him well and thank him for his contributions to the firm,” a BlackRock spokesperson told this portal in an email on Friday confirming the departure.
Lee exited the firm in the first week of January and his responsibilities at the firm have been assumed by the broad real estate team in Europe, the spokesperson said adding that Lee has not been being directly replaced.
“We believe that under the guidance and leadership of Marcus Sperber, Global Head of Real Estate and the Real Assets Global Management Committee, under the leadership of Jim Barry, the team is well positioned to take the business forward and grow the global platform.The team in both London and Continental Europe is well resourced with over 60 professionals,” the firm said.
It added that Lee had left the European real estate platform in an exceptionally strong position.
BlackRock Real Estate invests in strategies across the risk/return spectrum in both the public and private markets worldwide with over $21 billion in assets under management.
Lee was a Managing Director and served as a Chief Investment Officer and Head of EMEA for BlackRock Real Estate and a member of the Real Estate Global Executive Committee. He joined the firm in 2008, including his years with MGPA, which was acquired by BlackRock in 2013.
At MGPA, he served as Chief Executive Officer for the European business and in various roles based in Singapore including Chief Operating Officer for the group during which time he chaired the firm’s investment committees.
Prior to joining MGPA, he worked for Lend Lease in Australia, the US and in the UK, latterly as Chief Financial Officer for the firm’s European real estate development business.
LeEco’s CFO Wu Lei exits
Chinese internet firm LeEco’s chief financial officer Wu Lei has left the company amid a financial crisis that has led the firm to sell assets to cover the debts.
According to a report from China Money Network that cited Chinese media reports, Wu did not disclose the reason for his departure. Although, his departure is among other senior executives that left the firm founded by Chinese billionaire Jia Yueting.
Wu joined LeEco in August last year and was brought in to help the company to raise additional capital, according to reports.
Before joining LeEco, Wu served as the vice president and chief financial officer at Youku-Tudou, a video content platform. He has also served as the vice president and CFO for China and Asia Pacific region of Lenovo and held senior positions at Microsoft China.
This week, LeEco’s ride-hailing app Yidao lost its chief Zhou Hang after a clash between him and LeEco.