Southeast Asian proptech company PropertyGuru has appointed Ray Ferguson as board chairman, while Manulife Investment Management has laid off 250 employees across the US, UK, Canada, and Asia.
PropertyGuru ropes in ex-Singlife board chairman
PropertyGuru has appointed Singlife’s board chairman, Ray Ferguson, as a non-executive director and chairman of its board, reported The Business Times.
Ferguson is the co-founder and chairman of zero-emission yacht designing company ZEN Yachts. He is also the independent non-executive director for Singapore-based real estate investment trust Paragon REIT and non-executive chairman for ESG data and technology company STACS.
Ferguson will be replacing Olivier Lim, added the report. Lim had held the position for four years.
PropertyGuru is one of Southeast Asia’s largest online property listing platforms, boasting a total of over 2.9 million listings on its site. Since its inception, the proptech firm has also expanded into mortgage finance and developed B2B services targeting property developers and agents.
Manulife IM cuts 250 jobs across four regions
Manulife Investment Management has laid off 250 employees across the US, Canada, the UK and Asia, reported Finews Asia, citing a report by funds publication Ignites.
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. The firm has $845 billion worth of assets under management as of March 31, 2023.
The firm was among the first six asset management firms approved by the CSRC to sell fund-of-funds products in China. It rebranded its wholly-owned fund management company in China to Manulife Fund Management.
Manulife was the first foreign wealth and asset manager to convert its joint venture into a wholly-owned fund management company.