Equity partners at Cluttons have elected a new senior partner to replace Bill Siegle, who is stepping down after seven years at the helm.
Steven Morgan, currently the agent’s Middle East chief executive, will take the reins at the start of the new financial year in April. At 39 he will be the youngest senior partner in the agent’s 250-year history.
Siegle took charge in 2009 and oversaw the agent’s development in the wake of the recession. Under Siegle, international revenues have risen to represent 36% of the business. He said Cluttons hopes to increase this to 50% by 2017-18.
“Starting off in the recession, we had to put our house in order, we took some difficult decisions and refocused the firm and got ourselves fit,” said Siegle.
“We decided, with the markets in Europe and UK not being so helpful to growing the business, that we would look overseas. We already had an established Middle Eastern business, and we set a target to increase [the international side] to 50%.”
Morgan will bring international expertise to his leadership having headed up Middle Eastern operations since 2013, almost doubling turnover from £8.5m to an expected £15m in 2016-17.
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