Link Asset Management's CEO announces retirement after 16 years
發佈日期: 2025-07-22 21:19
TVB News
Link Asset Management announced its CEO's retirement. George Hongchoy will step down from his position by the end of June next year.
But his term has been embroiled in controversy after the company laid off employees while Hongchoy took an annual salary of over 70 million dollars.
Sixty-three-year-old George Hongchoy joined Link Asset Management as chief financial officer in 2009. In the following year, he was promoted to chief executive officer.
After serving as CEO of the company for 16 years, Hongchoy confirmed his retirement. He said family and personal reasons are behind the decision.
The CEO became emotional in the middle of his speech.
"I am proud to be the one who lead the company during its transformation period and witness its development," he said.
He said the company's assets grew from 33 billion to 220 billion Hong Kong dollars during his tenure. The company also expanded its business to the mainland, UK and Australia.
But his work is not without controversy. To support small and medium enterprises, Link launched a fund of 820 million dollars over the COVID-19 pandemic period.
Previously, Link also offered an average 2.2 percent rent reduction for existing tenants. Some tenants said the offer was insufficient.
One said the company does not care about small tenants. The company's board will soon launch its selection process to pick a new CEO.
