The Duke of Westminster’s property investment firm Grosvenor Group is searching for a new group chief executive after Craig McWilliam stepped down citing private reasons.
McWilliam, who was chief executive of Grosvenor Britain & Ireland, was due to take on the group role next year.
His sudden departure from the business was “mutually agreed”, the company said in a statement today.
James Raynor, who was scheduled to take over as chief executive of the Britain and Ireland business in September, has stepped into the role early.
The firm will now review succession plans for the group chief executive job, it said.
Current group chief executive Mark Preston said: “James Raynor has been preparing to take over this role for several months and will ably step up ahead of the original timetable to play a key role in enhancing the way we develop, manage and invest in property while positively contributing to the communities in London, and elsewhere in the UK, in which we are active.”
Preston will continue in the chief executive role. He is also the executive trustee of the Grosvenor Estate and head of the family office.
Grosvenor Britain and Ireland had assets under management of £5.3bn as at 31 December 2018.