Adveq — The Zurich, Switzerland-based asset manager and private equity investor has appointed Ron Li (pictured) as head of Chinawhere he will further develop Adveq’s position across Asia. Li joined Adveq as a managing director in early January and is based in the firm’s Beijing office.

Area Property Partners LP — The real estate investor, which was recently acquired by Ares Management LLC, announced that founder William Mack is stepping down as chairman. His son, Richard Mack — North America chief executive and founding principal of Area — will become a senior adviser to Ares Real Estate Group. Lee Neibart, the company’s chief executive, will become a senior partner and co-head of Ares Real Estate Group. William Benjamin will become a senior partner of Ares Real Estate Group and continue as head of Europe and India real estate.

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