Montagu Evans managing partner Rob Bower will stand down at the end of March 2025, with the process underway to appoint his successor.
The move comes a decade after Bower took on the role.
In a statement Bower said: "I’m proud to have served nearly 30 years at Montagu Evans in all, a place I fondly recognise as my second home. However, this is the right time to hand over to the next generation of leadership at our fantastic partnership."
Bower said the nominations process is well underway for a new managing partner with an announcement expected in the summer, and the role formally starting on 1 April 2025 after a "structured transition period".
Bower added that over the past year Montagu Evans has been working with external consultants PSFI to help shape the future of the business, taking into account all partners’ views and the feedback from clients.
Bower said: "Clients increasingly want the trusted advisor relationship that they get by working closely with partners who are passionate about what they do and which comes, in part, from having a stake in their own business. It’s a model that supports the very best talent who can shape their career as far as their ambitions will take them."
Bower said over his 10 years as managing partner the business had expanded significantly, increasing its emphasis on living, industrial and logistics and healthcare, particularly across London and Scotland.
"We’ve grown across both the public and private sectors and we are now one of the UK’s pre-eminent advisors for clients with planning and development challenges."
Bower said that, with any leadership role, there had been some tough decisions to make, with Brexit, Covid and the market downturn from mid-2022.
"We have had to get through challenging markets and unprecedented global upheaval, especially in the last few years and I suspect their impacts are not yet fully over. Changes to our business have never been made lightly and we continue to take sensible decisions that are in the best interest of our partnership as a whole and, notwithstanding short-term challenges, will set our leaders on a stronger course for the years ahead."
Bower said: "We are focused on ensuring as little disruption as possible to our teams and clients as they continue to do what they do best and we set up the partnership for its next phase of growth. Change brings opportunity, and I’m looking forward to keeping in touch and seeing what our next generation has to offer as they build on our legacy further in the many years ahead."
Montagu Evans is a 100-year-old national independent property consultant run by its partners and headquartered at 70 St Mary Axe.
In January the group reported falling annual revenue of £54.8 million and statutory profit of £14.1 million for the financial year to March 2023.
The adviser said that on the back of "challenging and industry-wide market conditions", the partnership has taken a long-term view and continued to invest in its business, including an increased headcount, extended ESG capability, new business information system and improved IT infrastructure.
Revenue of £54.8 million was a 15% decrease against the previous year’s record financial performance.