Erinaceous is to rebrand its property business NAI Capital
The firm announced to staff yesterday that it was rebranding the division and creating a new management structure.
The team will be run by Stuart Hicks, who will be managing director. Geoff Egan, who joined Erinaceous following its acquisition of Egan Lawson in August 2006 will be chairman, while former Dunlop Haywards director John Slater will be finance director.
It will be the second time in a year that the firm has rebranded.
Hicks said: “This is a new start for us. It is the creation of a discreet business that will have its own identity, management and accountability.”
It will comprise all of the Erinaceous commercial property businesses, including its management-based and professional services, the auctions businesses and investment expertise.
The new brand, which is part a drive by the company to draw a line under a troubled year, will be launched in February.
During the past 12 months, the business has been rocked by numerous high-profile departures, as well as several negligence claims. Most recently, its rapid expansion has caused it to breach its banking convenants.
This led to the departures of chief executive Neil Bellis and chief operating officer Lucy Cummings last month.
Although the business will become completely autonomous from Erinaceous, it is expected to be held in small holding company that will also own the other parts of Erinaceous’s business.
samantha.mcclary@rbi.co.uk chris.bourke@rbi.co.uk
