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City Developments names new CFO, deputy CEO

City DevelopmentsLtd. on April 11 said it appointed Sherman Kwek Eik Tse deputy CEO.

ShermanKwek will assist CEO Grant Kelleyin the oversight and management of the group's operating divisions and help carryout the company's strategic objectives in Singapore and overseas growth markets.

ShermanKwek, the son of Kwek Leng Beng, City Developments' executive chairman, will relinquishhis position as chief investment officer of the company.

CityDevelopments also named Yiong Yim Ming to be the company's CFO. Before assumingthe duties of interim CFO earlier in 2016 when Goh Ann Nee resigned, Yiong was the senior vice president of group accounts.

Further,Kwek Eik Sheng has been appointed to serve as the head of asset management in additionto his current role as chief strategy officer. He joined City Developments in 2009.

CityDevelopments added that it named Mark Yip CEO of its unit CDL China Ltd. to replaceSherman Kwek. Belinda Lee was appointed head of investor relations in addition toher current responsibility as head of corporate communications. Lastly, in January,Galen Lee joined the company as head of capital markets.

The appointmentstake effect April 11, the company said.