Jeremy Helsby replaces Aubrey Adams at Savills' helm

The board of real estate advisor Savills announced on Thursday the retirement of its CEO Aubrey Adams and the appointment of Jeremy Helsby as its new group chief executive. The appointment becomes effective on 7 May 2008.

Adams indicated earlier this year that after 17 years he was considering retiring from Savills' board in 2008. 'I have hugely enjoyed the last 17 years with Savills but feel that now is the time to hand over to Jeremy, who will continue to lead the outstanding growth and success of the business in the future. I look forward to working closely with Jeremy over the next few months to ensure a smooth handover', said Adams.

Helsby is a member of the Savills board and has been chairman of the UK and European commercial businesses for the past seven years.

'Under Aubrey's leadership Savills has become a leading global property services business with revenues growing from £24 mln in 1992 to over £500 mln in 2006. A loss of some £2.3 mln in 1992 has been transformed into a profit of £80 mln last year and the company is now a constituent of the FTSE 250. I would like to thank Aubrey on behalf of all our staff and shareholders for the significant role that he has played in expanding our business', said Peter Smith, chairman of Savills.