Knight Frank’s global head of residential Andrew Hay is to retire from the partnership in March 2020.
Hay will step down after 37 years with the firm.
Knight Frank plans to separate his role out into UK residential and global residential, with the firm attributing this decision to the growth in its international network. As such, Hay will remain head of the UK residential team until March but will no longer be in charge of the global service line.
Tim Hyatt, head of London residential, will take over as head of UK residential from 1 April 2020. He will also sit on Knight Frank’s group executive board.
A further announcement will follow on his successor in London.
Rupert Dawes, partner and joint head of residential development, will become global head of the residential team, effective immediately.. He will also continue in his role as joint head of residential development.
Alistair Elliott, senior partner and group chairman at Knight Frank, said: “Both Tim and Rupert come to their new roles with a wealth of experience that will ensure the residential business, both in the UK and globally will be excellently positioned for its next phase, there is lots to look forward to.
“I would like to thank Andrew for his guardianship of the residential business for the last eight years. His passion and energy for Knight Frank is, and always has been, inspiring. His ability and enthusiasm has been key to ensuring Knight Frank has a truly connected global network. Andrew remains in his role until 1 April 2020, and I know there will be no slowing of pace during that time.”
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