Singapore-listed office REIT Frasers Commercial Trust announced on 8 November that the CEO of its manager, Low Chee Wah, will step down with effect from the last day of 2016.

Succeeding him will be Jack Lam, who will assume the role of CEO-designate, from 1 January 2017.

Lam joined Frasers Centrepoint Limited in 2006, and most recently a general manager overseeing investments & business development in the group’s commercial and greater China division, a position he held since July 2011.

Immediately preceding that, he was the deputy CEO and head of investment at Frasers Centrepoint Asset Management, the manager of Singapore-listed retail REIT, Frasers Centrepoint Trust.

“He has the unanimous support of the board and his wealth of industry experience of more than two decades, including his experience in REIT management since 2002, will be invaluable in bringing the trust to the next phase of growth”, said Dr Chua Yong Hai, Chairman of the REIT’s manager.

Units of Frasers Commercial Trust finished the trading day about 0.3% higher from its previous close on the Singapore Exchange to end at SGD1.325.