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Banking

Changes afoot at Grosvenor…

Mark Preston: Grosvenor’s new chief executive

Mark Preston: Grosvenor’s new chief executive

Grosvenor, the international property development, investment and fund management group, has made several senior level changes. Jeremy Newsum, group chief executive, will resign from this role on June 30 2008 and will be succeeded by Mark Preston. In addition, Anthony James has been hired as group head of corporate finance. Preston is at present chief executive of Grosvenor Britain & Ireland, the largest business within the group. During his time at Grosvenor he has also headed the US business within Grosvenor Americas, and Grosvenor’s international fund management business.

Newsum will be stepping down after almost 20 years as group chief executive. He stays on the board of Grosvenor as a non-executive director. Since 1993, Newsum has also been executive trustee of the Grosvenor Estate, which includes all the business and private interests of the Grosvenor family, of which the property group is the largest business activity. He will continue in this role, working three days a week.

Succeeding Mark Preston as chief executive of Grosvenor Britain & Ireland will be Peter Vernon.

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