By Ian McConnell

FAST-growing UK estate and lettings agency network Lomond Group, which has a major presence in Scotland, has appointed Ed Phillips as group chief executive.

Mr Phillips has been responsible for running the lettings division of London-based Foxtons.

LDC, the private equity arm of Lloyds Banking Group, backed the creation of Lomond Group in December 2020, merging Lomond Capital and Linley & Simpson.

Lomond, which is targeting expansion into London, has doubled in size over the last year as a result of 25 acquisitions. It now has more than 34,000 properties under management worth in excess of £8 billion.

READ MORE: Hotelier says ‘xenophobic’ Brexit has created ‘impossible’ situation

Mr Phillips will succeed Stuart Pender, the founder and current group chief executive of Lomond.

Mr Pender, who will become executive chairman, said: “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. The group has ambitious plans and we see Ed’s appointment as key in driving the next stage of our growth.”

Lomond, which employs more than 1,000 people, has major hubs in core rental markets including Aberdeen, Birmingham, Brighton, Edinburgh, Glasgow, Leeds and Manchester. It also has a business in St Andrews.

READ MORE: Rangers kit supplier in major debt deal

The group said it had entered advanced discussions to enter three new regions of the UK, including the London market.

Mr Phillips said: “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.”