David Brown, the chief executive of London high-end agency Marsh & Parsons, is retiring with immediate effect.
The news came through late last evening along with the announcement that he is to be replaced by Patrick Littlemore, who takes over today.
Littlemore has 17 years’ estate agency experience and has been with Marsh & Parsons since 2006.
The official statement says that Littlemore - appointed lettings director of the agency in 2011 - had built and led the firm’s lettings and property management business “which has consistently delivered excellent financial results.”
Littlemore has been on the Marsh & Parsons management team prior to, and since LSL’s acquisition of the chain in 2011.
Commenting on his decision to retire, David Brown says: "Marsh & Parsons is a business with an invaluable brand, culture and people, and to have been at the helm while the business has continued to perform strongly despite challenging market conditions is something I’m extremely proud of.”