MARK PRESTON TAKES THE REINS AT GROSVENOR GROUP 30 ...

MARK PRESTON TAKES THE REINS AT GROSVENOR GROUP
30 June 2008
Mark Preston tomorrow (1 July) becomes Group Chief Executive of
Grosvenor, the privately owned property group with offices in 17 cities
around the world. Mark succeeds Jeremy Newsum who is stepping down
after almost 20 years.
Mark brings to the role his experience of heading up Grosvenor’s Britain & Ireland
and Fund Management businesses, as well as time spent with Grosvenor Americas.
Since June 2006 he has been Chief Executive, Grosvenor Britain & Ireland.
Peter Vernon, previously Executive Director for London in Grosvenor Britain &
Ireland, will succeed Mark as Chief Executive, Grosvenor Britain & Ireland. Peter is
in turn succeeded by Giles Clarke.
Jeremy Newsum continues in his other role as Executive Trustee of the Grosvenor
Estate and consequently stays on the Board of Grosvenor Group as a non-executive
director. As Executive Trustee, he oversees the management of all of the business
and private interests of the Grosvenor family.
Mark Preston said: “It is a great privilege to follow in Jeremy’s footsteps as Chief
Executive and to lead this fascinating and diverse group, having worked in various
parts of Grosvenor for almost 20 years”.
Notes for Editors overleaf. For further information contact:
Fenella Gentleman, Group Director of Communications, Grosvenor
Tel: +44 (0)20 7312 6435; Mob: +44 (0)7920 712 758
Email: fenella.gentleman@grosvenor.com

NOTES TO EDITORS
Grosvenor is a privately owned property group with offices in 17 of the world's most
dynamic cities. We have five regional investment & development businesses in
Britain & Ireland, the Americas, Continental Europe, Australia and Asia Pacific. Our
international fund management business operates across all these markets. As at 31
December 2007, these six businesses had total assets under management of
£12.9bn. Unusually for a private company, Grosvenor publishes a full Annual Report
& Accounts, available at www.grosvenor.com.
Mark Preston (40) joined Grosvenor in the UK in 1989. In 1995 he was seconded
to Hong Kong, after which he returned to lead Grosvenor’s fund management
operations in 1997, before moving to San Francisco as President of Grosvenor USA in
2002. He again returned to the UK, as CEO of Grosvenor Britain & Ireland, in June
2006. He is Chairman of The Association of Foreign Investors in Real Estate and
Non-Executive Director of Royal & Sun Alliance, London Board.
Peter Vernon (48) joined Grosvenor in March 2005. He was previously a Partner of
the real estate consulting teams of IBM Business Consulting Services and
PricewaterhouseCoopers.
Giles Clarke (41) joined Grosvenor in July 2007. He was previously Head of
Residential Estates at The Crown Estate.
The Group Board as of 1 July 2008:
The Earl of Home, (Non-Executive Chairman); Robin Broadhurst, Rod Kent, Alasdair
Morrison, Jeremy Newsum, Domenico Siniscalco and Tony Wyand (Non-Executive
Directors); Mark Preston, Nick Scarles, Bill Abelmann, Stuart Beevor, Neil Jones and
Peter Vernon (Executive Directors). Biographies are available on
www.grosvenor.com.
The Grosvenor Estate includes all the business and private interests of the
Grosvenor Family. The Grosvenor property group is the largest business activity and
its management is fully devolved to its Board of Directors; there is a non-property
investment portfolio, other business interests around Chester, a growing Family
Office and the charitable foundation the Westminster Foundation. The majority of
the assets are held in Trusts for the benefit of the Grosvenor family, the head of
which is The Duke of Westminster. The shareholders’ interests are represented by
the Grosvenor Trustees.
The Trustees of the Grosvenor Estate:
The Duke of Westminster, Chairman; Jeremy Newsum, Executive Trustee; Robin
Broadhurst; The Earl of Home; Lesley Knox and Mark Loveday.
Jeremy Newsum (53) first joined Grosvenor in 1976, before leaving in 1978 to join
Savills and then Bidwells, for whom he established a London office in 1984. He
returned to Grosvenor in 1987 and was appointed the inaugural Chief Executive of
the property company in 1989 and Executive Trustee in 1993.