Adrian Wyatt, founder and chief executive of Quintain Estates and Developments, is stepping down from the business.
Wyatt, who leaves Quintain 20 years after he founded the regeneration and fund management business, will be replaced by executive director Maxwell James when he officially steps down tomorrow.
Finance director Rebecca Worthington is also stepping up to become deputy chief executive.
She will continue with her responsibilities as finance director until her successor is appointed, working in partnership with Richard Stearn, deputy finance director, who joined Quintain from Berkeley Group earlier this year.
Nigel Kempner, who joined Quintain in February following the acquisition of Grafton Advisors, has also been appointed as an executive director with effect from 25 May.
James, who joined the London regeneration specialist as an executive director in May last year and was appointed to the board in July, had previously founded and led real estate investment bank Lowndes Partners.
He has also spent time as global head of real estate at HSBC Investment Bank and a director of Lazard.
Worthington, 40, joined Quintain in 1998 and has held a number of roles within the business, including company secretary, before being appointed as finance director in 2001. In addition to her role as FD, Worthington is responsible for the group’s regeneration activities at Greenwich Peninsula.
William Rucker, Quintain’s chairman, said Wyatt was a “visionary in the property market” who has paved the way for “two of the capital’s most exciting schemes”.
He said: “His ability to steer the business through the turbulence of the credit crisis to where it is today is a significant achievement. The board wants to express the gratitude of the whole company and we wish Adrian every success as he devotes his experience and talent to a range of activities.
He added that the new team is “ideally suited to realising the many opportunities ahead”.
Adrian Wyatt OBE said: “After 20 years leading Quintain, the time is right for me to hand over the reins to the next generation to take the business forward.
“I am proud of everything we have achieved and there is no better leadership for Quintain than the combination of Max and Becky. I remain passionate about the business and look forward to it fulfilling its potential in the years to come.”
James added: “Quintain is very well positioned with its combination of London regeneration schemes and asset management. We have tremendous opportunities to create value for all our stakeholders and I look forward to working with Becky to bring these to fruition.”
bridget.oconnell@estatesgazette.com
