Real Estate Management

Patrick LECOMTE

ESSEC Business School

Asia-Pacific Campus

*** ******** ******, *** #**-02

Singapore 188064

Email: abqkst@r.postjobfree.com

www.patricklecomte.com

RESEARCH INTERESTS

Real estate risk management, Financial innovation applied to real assets, Property derivatives,

Globalisation and commercial real estate markets.

EDUCATION

UNIVERSITY OF PARIS- NANTERRE LA DEFENSE

Doctoral School of Management and Economics.

Doctorate in Real Estate Finance (summa cum laude)- 2012.

Topic: Feasibility Study of Factor Hedges applied to Office Properties in the City of London.

Co-Directors: Pr. Dominique Jacquet (INSEAD) and Pr. Michel Baroni (ESSEC).

CAMBRIDGE UNIVERSITY

Department of Land Economy (Cambridge, U.K.)

M.Phil in Real Estate Finance- 2004.

Fellowship, Cambridge European Trust.

COLUMBIA UNIVERSITY

Columbia Business School (New York, U.S.A).

M.B.A. Finance- 1992.

Concentration : Finance/ Investment Management.

UNIVERSITY OF PARIS-DAUPHINE

D.E.S.S. cum laude- Corporate Finance- 1990.

Master - Management- 1989.

D.E.U.G. - Economics- 1987.

PROFESSIONAL EXPERIENCE

November 2008- present

ESSEC BUSINESS SCHOOL, Singapore.

Executive Director (Advanced Master in Financial Techniques: Top 2 Best Masters in Finance

globally- Financial Times ranking June 2012) and Research Fellow (Real Estate Finance).

- Launched and manage the Advanced Master in Financial Techniques- Financial Engineering Asia

track: recruitment in Asia (China, India, South East Asia), curriculum, marketing, corporate

relations, student management, placement.

- Conduct academic research on real estate related topics in Asia.

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- Teach real estate finance courses in the Advanced Master in Financial Techniques.

August 2006- August 2008

UNIVERSITY OF CINCINNATI, Ohio, U.S.A

Research Associate, College of Business.

- Conducted research on real estate related topics and presented findings at academic and industry

conferences.

- Published research papers in academic journals.

- Collaborated on the CCIM Institute s curriculum redesign.

- Technical editing of Financing Real Estate Investments for the Dummies (Wiley Publishing).

September 1998- July 2003

U.S. SECURITIES AND FUTURES CORP., Paris, France.

Investment Manager, Co-Founder of U.S. Securities Global Advisors, a French company expert in

the technical analysis of world equity markets.

- Specialized in developing and managing client base of high net worth individuals (150 M$).

- Advised clients on asset allocation.

- Founder of the Pergamon Art Fund, a limited partnership investing in art and offering a capital

guarantee at maturity.

ANALYSTGUIDE Inc., Paris, France.

Senior Analyst, Rating Agency of Financial Analysts based on an innovative and proprietary scoring

methodology.

- Project Management: selecting the company s partners, defining the project s technical

specifications in cooperation with FAME information Services, negotiating access to historical/real

time databases, supervising project execution.

- Definition of the legal and financial requirements of the project: writing business plans, searching

for financial partners assisted by Deloitte and Touche Corporate Finance.

August 1996- August 1998

PRUDENTIAL-BACHE SECURITIES, Paris, France.

Financial Advisor.

- Prospected international high net worth individuals and institutions.

- Handled accounts, developed trading strategies, managed multi-asset portfolios on the US market.

OTHER EXPERIENCES

September 1992- August 1993 OFFICE OF THE PRIME MINISTER, Military Service, Paris.

Summer 1990 CIMENTS FRAN AIS, Financial Planner, Paris.

Summer 1989 AIR FRANCE, Assistant to the Treasurer, Paris.

Summer 1988 APPLE COMPUTER, Financial Controller, Paris.

PUBLICATIONS- WORKING PAPERS

Tiptoe Past the Dragon: Replicating and Hedging Chinese Direct Real Estate, Working Paper

presented at the American Real Estate annual meeting (Florida, USA- April 2012) and the Asian Real

Estate Society/AREUEA international conference (Singapore, July 2012).

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Book Review for Towers of Capital: Office Markets & International Financial Services (Colin

Lizieri), Urban Studies, May 2012, 49:6, 1402-1404.

Asian Commercial Real Estate as an Inflation Hedge: A Multi Country Multi Asset

Class Analysis, Summary Report, APREA research project (March 2012). APREA webcast

(May 2012).

Corporate Governance: Introducing the R Index of Corporate Governance for Externally

Managed Asian REITs, The Institutional Real Estate Letter- Asia Pacific (March 2012).

The R-Index of Corporate Governance: Introducing a New Measure of Corporate Governance

for Singapore REITs, Asia Pacific Real Estate Association White Paper, January 2012.

Emerging Potential: Asian Commercial Real Estate as Inflation Hedge, IPE Real Estate (May

2011) .

Corporate Governance and Performances of Asian REITS: The Case of Singapore REITs, co-

authored with Joseph Ooi. Journal of Real Estate Finance and Economics (forthcoming). Award for

Best Paper in International Real Estate Investment/ Portfolio Management at the American Real

Estate Society Annual Meeting (2010).

Butterfly Spotting: An Industrial Real Estate Perspective on Globalisation and Transnational

Economies, Journal of Real Estate Literature, Vol 18:1, 2010. Award for Best Paper in Industrial

Real Estate sponsored by the National Association of Industrial and Office Properties (NAIOP)

Foundation at the American Real Estate Society Annual Meeting (2008), co-authored with Bill

Whitaker and Will McIntosh.

Beyond Index-Based Hedging: Can Real Estate Trigger a New Breed of Derivatives Market?

Journal of Real Estate Portfolio Management, Vol. 13:4, 2007. Award for Best Paper in Innovative

Thinking Thinking out of the box sponsored by the Homer Hoyt Advanced Institute at the American

Real Estate Society 23rd Annual Meeting (April 2007). This paper also received the Award for Best

Paper published in the Journal of Real Estate Portfolio Management (2008).

Are UK-REITs Victims of their Own Success?, The Real Estate Finance Journal (November-

December 2007), co-authored with Bill Whitaker.

Designing Property Futures Contracts and Options based on NCREIF Property Indices, Journal

of Real Estate Portfolio Management, Vol. 12:2, May-August 2006. Award for Best Paper in Real

Estate Finance sponsored by the Fannie Mae Foundation at the American Real Estate Society 22nd

Annual Meeting.

Going Synthetic: The Next Frontier for US Property Derivatives, The Institutional Real Estate

Letter, November 2005. Co-authored with Will McIntosh.

Is This a Revolution? Property Derivatives could change the Real Estate Markets, The

Institutional Real Estate Letter, October 2005. Co-authored with Will McIntosh.

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INDUSTRY CONFERENCES AND ACADEMIC PRESENTATIONS 2006-2012

July 2012 Asian Real Estate Society/ AREUEA international conference (research

paper presention, discussant)

American Real Estate Society 28th Annual Meeting (research paper

April 2012

presentation)

November 2011 Paris-Europlace Singapore Symposium (panelist: Financial Regulations)

June 2011 Real Estate Investment World Asia, Singapore (panel moderator)

April 2011 Asia Pacific Real Estate Association (APREA) Property Leader Forum,

Beijing April 2011 (research project presentation)

July 2010 Asia Pacific Research Symposium, Hong Kong (research paper presentation).

June 2010 European Real Estate Society Annual Conference, Milan, Italy (research paper

presentation).

April 2010 American Real Estate Society Annual Meeting, Naples, FL (research paper

presentation).

April 2010 Asia Pacific Real Estate Association (APREA) Property Leader Forum

Singapore April 2010 (research project presentation)

June 2009 Terrapinn Real Estate Investment Asia 2009, Singapore (panel moderator).

April 2008 American Real Estate Society Annual Meeting, Captiva Island, FL (research

paper presentation).

February 2008 Terrapinn Real Estate Derivatives World USA 2008, New York, NY (panelist,

moderator).

January 2008 American Real Estate and Urban Economics Association Annual Conference,

AFA 2008 New Orleans Meetings (research paper presentation).

November 2007 Marcus Evans Property Derivatives Conference, New York, NY (panelist).

June 2007 European Real Estate Society Annual Conference, London, U.K. (research

paper presentation).

April 2007 Terrapinn Real Estate Derivatives World USA 2007, New York, NY

(panelist).

April 2007 American Real Estate Society Annual Meeting, San Francisco, CA (research

paper presentation).

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April 2006 American Real Estate Society Annual Meeting, Key West, FL (research paper

presentation).

AWARDS AND MANUSCRIPT PRIZES

Best Paper in Real Estate Finance, American Real Estate Society Annual Meeting (2006)

Best Paper in Innovative Thinking, American Real Estate Society Annual Meeting (2007)

Best Paper in Industrial Real Estate, American Real Estate Society Annual Meeting (2008)

Best Paper published in the Journal of Real Estate Portfolio Management (2008)

Best Paper in International Real Estate, American Real Estate Society Annual Meeting (2010)

ADDITIONAL INFORMATION

Research mentioned in industry and business publications: The Edge Singapore (Remaking the Reits-

cover story), IPE Real Estate, Investment and Pensions Asia, Asia Property, SNL, Property Magazine,

Ignites-Financial Times, The Asset magazine, Sydney Morning Herald, Business Times.

Member of the Asia Pacific Real Estate Association (Research Committee).

Member of the American Real Estate Society.

Member of the Asian Real Estate Society.

Member of the Investment Property Forum (London, UK).

Registered Representative with the National Association of Securities Dealers (NASD, New York -

Series 7) and the National Futures Association (NFA, Chicago- Series 3).

French citizen. Singapore Personalized Employment Pass holder (PEP. Exp. 2015).

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