News

Two Erinaceous MDs quit business

News

Samantha McClary, Bridget O’Connell

30 March 2007

Offices

The managing directors of the professional and management divisions of Erinaceous have quit the firm.

Simon Kitching and Peter Dove, who ran investment boutique Miller Kitching with Mark Miller before its £8.5m sale to Erinaceous in November 2005, handed in their resignations last Friday.

This takes the number of director departures from the 650-strong business, formerly known as Dunlop Haywards, to eight in the past eight months.

Neil Bellis, chief executive of the 5,000-strong property and insurance group, which is moving into new offices in Piccadilly (see box), said: “We are going through integration at the moment and there are a lot of changes. Simon Kitching and Peter Dove have decided to move on. Both roles have been filled internally by Stuart Hicks and David Rowling, respectively.”

Tony Lorenz, the co-founder of Baker Lorenz and executive vice-chairman of Dunlop Haywards; executive chairman Bob Dyson; MD David Kahn; and director Bruce Mortimer have all quit the business. The other directors who have gone are Mike King, head of valuation in its Manchester office, and Jeremy Simmons, who joined Dunlop Haywards as a senior director after selling his leisure firm Berkeley Simmons Davis in 2004.

The fast-growing business has bought more than 40 firms since it was founded by Bellis in 1999. Revenues have grown tenfold from £21.5m to £200m in five years. This month, Erinaceous reported that profits for 2006 had fallen to £18.8m, against £23.2m in 2005, on revenues up from £152m to £227.2m.

The company has reserved a charge of £4.4m to cover costs relating to the allegations of fraud that arose at Dunlop Haywards in March 2006. This is to cover any claims arising from an SFO investigation of Ian McGarry, once head of valuation at DH in the City.

Erinaceous move

Erinaceous is negotiating a short-term deal for 20,000 sq ft at Standard Life’s 10 Piccadilly, W1. The top three floors of the 58,376 sq ft building will house staff from Dunlop Haywards, whose HQ at 10 Queen Anne Street, W1, is being sold. The firm had been in talks to take space at 33 Cavendish Place, W1, and up to 67,000 sq ft at 33 Wigmore Street, W1.

The managing directors of the professional and management divisions of Erinaceous have quit the firm. Simon Kitching and Peter Dove, who ran investment boutique Miller Kitching with Mark Miller before its £8.5m sale to Erinaceous in November 2005, handed in their resignations last Friday. This takes the number of director departures from the 650-strong business, formerly known as Dunlop Haywards, to eight in the past eight months. Neil Bellis, chief executive of the 5,000-strong property and insurance group, which is moving into new offices in Piccadilly (see box), said: “We are going through integration at the moment and there are a lot of changes. Simon Kitching and Peter Dove have decided to move on. Both roles have been filled internally by Stuart Hicks and David Rowling, respectively.” Tony Lorenz, the co-founder of Baker Lorenz and executive vice-chairman of Dunlop Haywards; executive chairman Bob Dyson; MD David Kahn; and director Bruce Mortimer have all quit the business. The other directors who have gone are Mike King, head of valuation in its Manchester office, and Jeremy Simmons, who joined Dunlop Haywards as a senior director after selling his leisure firm Berkeley Simmons Davis in 2004. The fast-growing business has bought more than 40 firms since it was founded by Bellis in 1999. Revenues have grown tenfold from £21.5m to £200m in five years. This month, Erinaceous reported that profits for 2006 had fallen to £18.8m, against £23.2m in 2005, on revenues up from £152m to £227.2m. The company has reserved a charge of £4.4m to cover costs relating to the allegations of fraud that arose at Dunlop Haywards in March 2006. This is to cover any claims arising from an SFO investigation of Ian McGarry, once head of valuation at DH in the City. Erinaceous move Erinaceous is negotiating a short-term deal for 20,000 sq ft at Standard Life’s 10 Piccadilly, W1. The top three floors of the 58,376 sq ft building will house staff from Dunlop Haywards, whose HQ at 10 Queen Anne Street, W1, is being sold. The firm had been in talks to take space at 33 Cavendish Place, W1, and up to 67,000 sq ft at 33 Wigmore Street, W1.