Jeremy will be succeeded by Mark Ridley, the current CEO of Savills UK & Europe, who will also become chairman of Savills group executive board.

Mark’s appointment will see the implementation of succession plans within Savills UK & Europe, with James Sparrow – previously the head of Savills UK professional services business – taking on Mark’s current role from 1^st May.

In addition, Richard Rees will be appointed to a new role as UK managing director, supporting James alongside his role as head of national development services.

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“I am delighted that Mark will succeed me as group chief executive effective 1^st January 2019 and I look forward to working closely with him over the next 12 months to ensure a smooth handover,” said Jeremy.  

“I am very pleased that from January 2019 I will be able to support Savills in further growing its US business.”

Mark added: “I have had 10 very enjoyable years running first Savills Commercial, then from 2013 the combined Savills UK business and latterly from September 2014, Savills UK & Europe, during a period in which these businesses have grown substantially. 

“I am really excited by my new role as group CEO of Savills PLC from 1^st January 2019 and look forward to the challenges and opportunities it will present.”