Nick Ferguson to succeed Peter Smith as Savills chairman

Real estate advisor Savills announced the appointment of Nick Ferguson – currently chairman of Sky – as a non-executive director with immediate effect.

In addition, the company said Ferguson will succeed Peter Smith as chairman following his retirement from the board in May.

Savills said Ferguson brings extensive leadership experience from the private equity and investment sectors.

He was co-founder of private equity group Schroder Ventures, where he served as chairman from 1984 to 2001. He also served as chairman of SVG Capital from April 2005 to November 2012.

He is currently chairman of Alta Advisers Limited, an investment advisory firm, a position he has held since January 2007.

Chief executive officer Jeremy Helsby said: “His experience will be a great asset for Savills as we continue to grow. I look forward to his contribution and guidance as we seek to deliver the company's long-term strategic objectives."

At 0855 GMT, Savills shares were down 0.3% to 783p.