**George Hongchoy to Retire as CEO of Link Asset Management**
George Hongchoy, the CEO of Link Asset Management Ltd., which oversees Asia’s largest real estate investment trust, has announced his plans to retire. At 63, Hongchoy will continue to support the company during the search for his successor, as stated by the Hong Kong-based firm.
Hongchoy, who began his career as an investment banker, joined Link in 2009 as the chief financial officer and ascended to the CEO position the following year. Under his leadership, Link manages the Link REIT, which boasts assets worth HK$226 billion (approximately $29 billion) across various sectors, including retail, office, and logistics.
During Hongchoy’s tenure, the LINK REIT has significantly outperformed the Hang Seng Index, achieving an annual return of 10.2% including dividends, compared to a 5% gain for Hong Kong’s primary equity index. The company has successfully diversified its portfolio, expanding beyond its initial focus on low-end neighborhood malls in Hong Kong to include office buildings and shopping centers in mainland China, Australia, Singapore, and the UK.
Hongchoy has been recognized as one of the highest-paid executives in Hong Kong, with an annual compensation of HK$70 million. Additionally, Link has ventured into fund management, recently appointing John Saunders, the former head of Asia-Pacific real estate at BlackRock Inc., to lead Link Real Estate Partners.
Duncan Owen, chair of Link, remarked on the company’s resilience in a challenging market, highlighting the strength of the business and the positive momentum in their efforts to grow and diversify their investment platform.
As Link Asset Management prepares for this transition, the future of the company looks promising, with ongoing initiatives aimed at expanding its reach and enhancing its investment strategies.
**FAQ**
**What is Link Asset Management Ltd.?**
Link Asset Management Ltd. is the manager of Link REIT, Asia’s largest real estate investment trust, overseeing a diverse portfolio of retail, office, and logistics assets.
