Bolton King in surprise move to RICS
Wednesday 11th April 2012
Peter Bolton King, who left his post as chief executive of NFoPP last week, is to join the RICS on April 25 to head up the residential faculty.
His position will be that of RICS Global Residential Director, succeeding David Dalby who retires in early July, but with the role taking on a new global dimension.
Bolton King, an RICS member since 1979, will now lead what is effectively the NAEA’s traditional enemy and professional rival, with the brief of growing the RICS’s residential membership.
He said: “I am joining RICS at a very significant time for the residential property industry and will be looking to continue to help this sector in the UK and overseas.”
It is understood that Bolton King, 57, had been wooed by the RICS for some time, and could also have taken his pick of job offers from abroad.
Bolton King’s appointment to the RICS comes nearly ten years after the two organisations nearly merged. Had they done so, then Bolton King’s predecessor at the NAEA, Hugh Dunsmore-Hardy would have headed up the new merged residential faculty.
Is a merger of NFoPP and the RICS now on the cards? Bolton King said: “The two organisations are already working closely together. A merger is not on my agenda, but you can never say never.”
He said of the global dimension to his role: “I have amassed considerable experience in the way different markets work across the globe and have gathered a lot of contacts. I will be able to use my knowledge to promote the RICS globally.”
Bolton King was group chief executive at the NAEA for almost nine years and oversaw its merger with ARLA under the controversial umbrella of NFoPP, which also encompassed the smaller auctioneering and commercial agents associations of NAVA and ICBA.
Turning super-commuter, Bolton King will travel to work from his home in Warwickshire to the RICS office in Parliament Square, where he will work alongside the institution’s other professional group teams, covering such areas as estate agency, lettings, survey and valuation, block management, affordable housing and social housing.
Prior to joining the NAEA, he spent five years at Bradford & Bingley as senior area director and was an area director at Black Horse Agencies (1987-98). He was also appointed as the youngest-ever salaried partner at Warwickshire-based Locke and England Chartered Surveyors in 1983.
Ken Creighton, RICS Director of Professional Standards, said: “We are absolutely delighted to have appointed Peter Bolton King. Having somebody of Peter’s vast knowledge and experience will prove invaluable to our members, the institution and the property industry as a whole.”
Outgoing residential director David Dalby added: “Having someone of Peter’s calibre taking over this role demonstrates RICS’s commitment to raising standards and professionalism in this vital economic sector, and I look forward to working with him during the hand-over period, to establish a framework to take RICS Residential to the next level, in terms of influence and global reach.”
Although the RICS is a far larger organisation overall, operating worldwide with over 100,000 members, Bolton King says that its UK residential sales group is probably of a similar size to that of the NAEA, but in terms of residential lettings activity, currently much smaller than ARLA’s.
The RICS, which has also been dogged by an ageing membership, has in recent years been attempting to grow its residential membership by introducing a new category that dispenses with the usual university-level entry qualifications and long professional training.
The NAEA was specifically formed 50 years ago to allow non-surveyors to be estate agents, preventing the RICS from monopolising the market. The RICS is a much older organisation, established in 1868 in the UK by Royal Charter.
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