Daniel Mark Harrison & Co. Hires Former Jennifer Convertibles CEO To Lead New Development Subsidiary
SINGAPORE--(Business Wire/Korea Newswire) January 15, 2016 -- The following is a statement by Daniel Mark Harrison & Co.:
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Daniel Mark Harrison & Co. (DMH & Co.), the largest property developer in the North of England, headquartered in Singapore and Manchester, UK, is pleased to announce that it has hired Snorre Larstad as Chief Executive of H Developments, its newly-established subsidiary real estate development company, and as Senior Vice-President of Operations of parent DMH & Co.
Mr. Larstad is a widely-respected senior executive in Asia who formerly served as CEO of US home furniture retailing giant Jennifer Convertibles and Chief Strategy Officer of Morris Zou, a leading furniture manufacturer in Zheijiang, China.
“At DMH & CO., Snorre will bring enormous value to our organization as we continue to justify our first place position as a developer of residential property in the Northern Powerhouse cities with an established Asia-based presence and the one that investors are telling everyone they trust more than any of our competitors to fulfil delivery and buyback promises,” said Daniel Mark Harrison, President & CEO of DMH & Co., in a statement.
The hire of Mr. Larstad follows a spate of announcements by DMH & Co. of major institutional sales deals at the end of last year. The announcement of Mr. Larstad as H Developments’ chief executive is DMH & Co.’s most significant hire to date and reinstates the firm’s leadership stronghold over the white-hot local provincial British property development market.
H Developments, previously set to be called Harrison Homes, is the developer of the best-selling White House development in Runcorn, near Liverpool and Manchester, and co-developer of Howard Residences, a former university renovation in Rotherham. Rotherham was voted Number 2 “buy-to-let” hotspot in Britain by the Daily Mail last year.
In December, DMH & Co. sold one fifth of the building to a major Chinese financial institution. It has sold approximately one-third of the development in private pre-sale deals to date.
Mr. Larstad, who speaks Chinese fluently, has over 15 years of experience managing oil and gas, shipping, manufacturing and retail operations in mainland China, South East Asia and the Middle East as well as serving as a consultant for management consultancy AT Kearney.
Mr. Larstad is credited with shoring up the operations of former NASDAQ-listed Jennifer Convertibles and restoring the company to profitability by reorganizing its retail operations as well as managing its supply-chain relationships with mainland Chinese furniture manufacturers during the aftermath of the subprime housing market crisis.
As Chief Executive of H Developments and SVP of Operations for DMH & Co., Mr. Larstad will manage relationships with Chinese banks, oversee all operations including sales, marketing and property development to help DMH & Co. scale across Asia over the new year.
“Snorre is one of a very, very small handful of executive managers in the Asian region with such a deep level of local knowledge and wide breadth of operating experience. He is without doubt one of the most talented senior managers around as time and again, he has proven himself the only one who has been capable of delivering on complex cross-border operating initiatives. We are hugely excited to have gotten such a remarkable executive with so much international experience to head up our new development company,” said Mr. Harrison.
About Daniel Mark Harrison & Co. Pte. Ltd.
Daniel Mark Harrison & Co. (DMH & Co.) is the North of England’s largest property development company based in Singapore and Manchester with over SGD $150 million of real estate assets and sales of SGD $40 million per year. The company’s Manchester-based Orchid Point developments are the fastest-selling properties in the North of England and are yielding 8% annual returns. DMH & Co.’s founder, Daniel Mark Harrison, is the oldest of 9 generations of the founding family of Europe’s oldest security printers, Harrison & Sons Ltd., founded in 1750 and sold to De La Rue PLC in 1997.
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