Grosvenor is to implement a restructure of its London Estate on Monday, after completing a fundamental review of the business this week.
The new structure sees four directors assume “unequivocal responsibility” for four locations.
Catherine Stevenson becomes director for South Belgravia, John Clark for North Belgravia, Simon Elmer takes on responsibility for Eaton Square and Will Bax moves from Grosvenor’s Paris office to take on Mayfair.
They will lead multi-disciplinary teams tasked with improving customer satisfaction and increasing profit by speeding up lettings and reducing voids.
Fourteen staff will leave the business, with investment and property management primarily affected.
Peter Vernon, chief executive of Grosvenor Britain and Ireland, said the changes would give more staff profit and loss account responsibility.
“We’ve simplified and speeded up decision-making,” he said.
In other moves Jenefer Greenwood, currently retail strategist, becomes director of sale and lettings across the UK. Vicky Herring becomes director of performance improvement.
The changes mark the first phase of Grosvenor’s Fast Forward project, which Grosvenor hopes will raise recurring revenue on the estate by £15m pa and increase value-added growth by £25m pa.
damian.wild@estatesgazette.com
To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.
