Lomond has appointed former Direct Line Insurance Group Chief Executive Officer Paul Geddes as its new Group Chief Executive Officer as the lettings and estate agency platform prepares for its next phase of growth.
Geddes (main picture, inset) will join the business in September, succeeding Ed Phillips, who has overseen a period of rapid expansion since joining the company in 2022.
The appointment comes after Lomond more than doubled its portfolio under management from 34,000 properties to more than 70,000 and completed around 40 acquisitions, establishing itself as one of the largest consolidators in the UK lettings and estate agency sector.
Geddes joins from Evelyn Partners, where he most recently served as Chief Executive Officer and led the business through its £2.7bn sale to NatWest Group. He previously served as Chief Executive Officer of Direct Line Insurance Group, overseeing its stock market flotation and progression into the FTSE 100, and has also led NatWest Group’s Retail Banking division.
COMPELLING PROPOSITION
His arrival is expected to support Lomond’s continued expansion through a combination of organic growth, technology investment and further acquisitions.
Paul Geddes, incoming Group Chief Executive Officer of Lomond, says: “Lomond is at the forefront of a consolidating UK market, with a compelling and differentiated proposition for both landlords and tenants.
“There is significant opportunity to build on the company’s strong positioning and achievements to date, through continued organic growth, AI integration, and targeted acquisitions. I am delighted to be joining the Group and look forward to working with my new colleagues to deliver the next phase of growth.”
RIGHT PARTNER
Kate Swann, Chair of Lomond, adds: “We are delighted to welcome someone of Paul’s calibre and track record to Lomond.
“He brings deep experience in driving operational excellence and scaling businesses, and, having worked together previously at Argos, I am confident he is the right partner to continue delivering Lomond’s growth strategy.”
Outgoing Group Chief Executive Officer Ed Phillips says: “It has been a privilege to lead Lomond and work alongside such a talented team.
“Together, we have more than doubled the size of the business and built the UK’s leading national platform.
“I am proud of what we have achieved, Lomond is well positioned for continued success, and I leave it in excellent hands.”
The appointment is another sign of the increasing institutionalisation of the UK agency sector, with large platform businesses continuing to attract senior executives from financial services and other major corporate sectors as consolidation across the market gathers pace.
