28 April 2011
Resignation of Managing Director of Hospitality
VinaCapital, an asset management and real estate development group focused on Vietnam, today announces that Mr. Stephen O’Grady, managing director of the company’s hospitality division, has resigned from the company, effective 30 June 2011, to explore other career opportunities in Vietnam and Southeast Asia.
Mr. O’Grady joined VinaCapital in 2006 to lead the acquisition and management of operating hotels and hospitality projects for VinaCapital’s investment funds, VOF and VNL. During his tenure, VinaCapital acquired Vietnam’s top portfolio of operating hotels, including increasing its stake in the world-renowned Sofitel Legend Metropole Hotel in Hanoi, listed on the prestigious Conde Naste Gold List in 2009 and 2010.
Mr. O’Grady led significant renovation and rebranding projects at hotels including the Sofitel Legend Metropole, Hilton Hanoi Opera, Movenpick Saigon and Movenpick Hanoi hotels.
VinaCapital Director and Founder Mr. Horst Geicke comments: “Our reputation as Vietnam’s leading real estate investment and development firm has been enhanced significantly by the quality of our hospitality portfolio. Stephen has been instrumental in building this portfolio by leading business and management turn-arounds at all our hotel properties. We wish him great success in his future ventures.”
Ms. Nguyen Duc Huong
Public Relations Director
Mr. Michael L. Gray
VinaCapital is the leading investment management and real estate development firm in Vietnam, with a diversified portfolio of almost USD2 billion in assets under management. VinaCapital was founded in 2003 and boasts a team of managing directors who bring extensive international finance and investment experience to the firm. VinaCapital manages three closed-end funds trading on the AIM Market of the London Stock Exchange. These funds, at a combined net asset value (NAV) of USD1.7 billion as of December 2010, make VinaCapital the largest asset manager focused on Vietnam and its neighbouring countries. VinaCapital has offices in Ho Chi Minh City, Hanoi, Danang, Nha Trang, Phnom Penh (Cambodia) and Singapore. More information about VinaCapital is available at www.vinacapital.com.