Global property agency Savills has appointed a new UK CEO, James Sparrow, and named Richard Rees as UK managing director.
Former UK CEO Mark Ridley will undertake the transitionary role of deputy group CEO, prior to becoming group CEO from January 2019, as well as continuing as European CEO until September 2018.
According to the broker, which was founded in the UK in 1855, Savills is introducing two leadership roles for its UK business for the first time due to the size and scale it has reached today.
'I am delighted to be taking over the leadership of the UK business with Richard Rees from today, it is hugely exciting,' said Sparrow.
'Savills UK has enjoyed extraordinary growth and success under Mark’s guidance and, on behalf of the UK board and the entire company, we want to thank him for all that he has done. We look forward to working with him as he progresses to lead the global firm.'
Sparrow will be supported by Rees in directing the business, while both will work alongside Tim Maynard in his capacity as as chief financial officer and operations director.
'I have had 11 hugely enjoyable and stimulating years running the Savills commercial business, which then became Savills UK when our UK commercial, residential, rural, planning and residential development businesses merged in 2013,' said Ridley.
'Since the merger, the business has grown from 3,500 to over 5,500 employees and revenue increased by approximately 60%, a fantastic team effort by all involved. This has been achieved by a combination of organic growth together with some significant acquisitions including, Smiths Gore, Collier & Madge and GBR Phoenix Beard.'
Both Sparrow and Rees were appointed to the Savills UK board when it was formed in 2012, having previously been part of the boards of Savills commercial and Savills L&P.
'Savills UK is a strong and successful business,' said Rees. 'We are committed to ensuring the business continues to operate a high level of service with a strong culture.'
