Royal Bank of Scotland's global real estate director Helen Gordon has been named the next chief executive of Grainger, the quoted property group.

Grainger said Ms Gordon, 56, was " a highly experienced, proven and well-regarded real estate business leader, with particular expertise in residential property combined with extensive City knowledge". Since October 2011 she had led the work-out of the bank's distressed real estate book, and was formerly property director at L & G's £4.5billion life fund. She will take over on January 1 2016 just ahead of the retirement of

Andrew Cunningham.