The Grosvenor Estate has rejigged its executive team with new senior appointments and simplified governance structure.
These include a newly created chief investment officer role, which Grosvenor Britain & Ireland chairman Jonathon Bond will take up from 10 May.
Bond (pictured) will assume most of group executive director Peter Vernon’s responsibilities, who is retiring from Grosvenor on 30 September.
Grosvenor Group finance director Rob Davis has been promoted to chief financial officer of The Grosvenor Estate, replacing Nick Scarles who will retire from his executive role on 31 December.
Nicholas Dobbs, rural estates director, has been promoted to the role of head of the family office from 1 April.
Bond, Davis and Dobbs will all report to chief executive Mark Preston.
An investment committee chaired by non-executive chairman Michael McLintock will oversee capital allocation, as well as strategy relating to commercial activities in international urban property, food and agriculture and in financial investments. Bond will join this committee alongside Davis and two independent advisers.
International property development, asset management and investment will continue to be led by the chief executives of its regional operating companies as well as its indirect investment business, which invests in third-party managed joint ventures.
Hugh Grosvenor, the Duke of Westminster, said: “These changes will help us shape our long-term success, building on our international growth of the past 50 years and meeting the many and varied challenges of the next 50.”
Preston said: “As Grosvenor has done many times before in its long history, we are making these changes to help the organisation better manage the challenges facing a new generation.”
He added: “These structural changes, new appointments and governance simplifications will better equip each part of The Grosvenor Estate to adapt to economic, social, political, environmental and technological change and disruption.
“They will help foster more pace, innovation, diversity of thinking and entrepreneurialism, ultimately to better enable the organisation and the communities in which we are active to thrive through the 2020s and beyond.”
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette\
