Group Chief Executive Officer. City Developments Limited (CDL)
Mr Sherman Kwek assumed his current role as CDL’s Group Chief Executive Officer in January 2018. Since April 2016, he has also held the position of Executive Chairman of CDL China Limited. He was previously the Deputy CEO and prior to that, concurrently the Chief Investment Officer of CDL and also the CEO of CDL China Limited. He has been spearheading the Group’s expansion in China, Japan and Australia.
Prior to joining CDL, Mr Kwek was the CEO of City e-Solutions Limited, a Hong Kong-listed company engaged in the provision of hotel management and electronic distribution services to the global hospitality industry. During his tenure, he acquired several hotels and also invested in a cutting edge Central Reservations System platform that is currently used by several thousand hotels.
Before that, Mr Kwek was the Chief Operating Officer of Singapore-listed Thakral Corporation Ltd, which is involved in the distribution of fast moving consumer goods in China. He restructured the company and expanded the supplier and customer base which resulted in improved profitability.
In his earlier years, he was a Director of RECAP Investments Limited, a wholly-owned subsidiary of Real Estate Capital Asia Partners, LP., a private equity fund. He assisted the fund in completing property deals in Korea and Thailand.
Mr Kwek started out his career in New York as a financial analyst at Telligent Capital, a technology venture capital firm, before progressing on to the Investment Banking Division of Credit Suisse First Boston. Subsequently, he held a hotel management and property development role at the U.S. division of Millennium & Copthorne Hotels plc, a global hospitality chain listed in London.
With experience in the areas of investments, mergers and acquisitions, real estate, hospitality and technology, he has worked in New York, Hong Kong, Shanghai and Singapore.
Mr Kwek graduated from Boston University with a Bachelor of Science in Business Administration, majoring in Finance and Marketing with a minor in Psychology. He has been serving as a Council Member of the Singapore Chinese Chamber of Commerce and Industry since March 2013 and is currently the Chairman of its Youth Business Affairs Committee, tasked with nurturing young business leaders into future successors for society while also promoting the Chinese entrepreneurial spirit and culture. He is also a member of the Diversity Action Committee initiated by the Singapore Exchange Limited to promote greater gender diversity on the boards of listed companies