Lomond Group, one of the UK’s fastest-growing estate agency networks, has appointed Ed Phillips from Foxtons as its new Group Chief Executive.

Phillips (pictured) is currently responsible for running the lettings division at Foxtons – London’s largest lettings business.

The news comes as Lomond enters advanced discussions to enter three new regions of the UK, including the London market.

Lomond has doubled in size over the past year as a result of 25 acquisitions. It now has more than 34,000 properties under management worth over £8bn.

Phillips will succeed Stuart Pender, the founder and current group chief executive, who will become executive chairman of the property business, which is backed by LDC, the private equity arm of Lloyds Banking Group.

Part of expansion strategy

“Attracting someone of Ed’s calibre and experience is an important part of our strategy to expand into more private rental markets around the UK,” said Pender. “The group has ambitious plans and we see Ed’s appointment as key in driving the next stage of our growth.”

Phillips added: “Lomond Group is the most exciting property business in the UK with ambitions to continue its rapid expansion. I look forward to working with the board and the leaders of each of Lomond’s regional businesses to deliver a market leading network in key cities across the UK.”

The Lomond Group was established in December 2020 from the merger of Lomond Capital and Linley & Simpson. It has major hubs in core rental markets including Aberdeen, Birmingham, Brighton, Edinburgh, Glasgow, Leeds and Manchester.