Foxtons Chief Operating Officer Patrick Franco has resigned from his position effective today.

The 39-year-old joined the estate agency in 2015 and was later elevated to its board. Prior to that was a director at City financial giant Credit Suisse Asset Management.

His departure appears to be unusually swift as he leaves today to take up the position of Vice Chairman of Global Heritage Fund.

It transforms local communities around the world by investing in cultural heritage and advanced economic development.

Franco always had an interest in matters beyond money and property, and took a lead in promoting Foxtons’ champion of LGBTQ+ rights for both its staff and customers, recently launching a ‘safe spaces’ initiative within each of its branches.

He also lead an initiative for the company to be more open with the media after years of Foxtons pursuing a ‘shutters down’ approach to criticism.

CEO Nic Budden is to take up his COO responsibilities.

“On behalf of the Board I’d like to thank Patrick for his contribution to Foxtons over the last 7 years and we all wish him well for the future,” says Foxtons’ chairman Nigel Rich.

“Cost control continues to be an area of focus, and over the last six months the Company’s actions have included simplifying its Executive and Senior Management structures.

“We are pleased to formally welcome Chris to a more streamlined Foxtons Board, and we are looking forward to working with him and the wider executive team as we continue to implement our growth strategy.”