Sigma Capital names chairman

Sigmacapitalgroup,theedinburgh-based residential development and urban regeneration specialist, has appointed former Taylor Wimpey boss Ian Sutcliffe to replace its longstanding chairman.

The group, which last week announced that its housebuilding partners had resumed work south of the Border having put physical distancing measures in place, said the appointment would take place with immediate effect.

Current chairman David Sigsworth will remain on the Sigma board as senior independent non-executive director.

The firm said Sutcliffe brought “a wealth of board level experience” in both housebuilding and other sectors. Most recently he was group chiefexecutiveofcountryside Properties, until his retirement earlier this year, and senior independent director at Ashtead Group.

Sutcliffe was also previously UK chief executive of Taylor Wimpey and chief operating officer of Segro.

Sigma chief executive Graham Barnet said: “[Sutcliffe] brings wide-ranging experience and a significant track record. Having worked closely with us over the past seven years, he is fully familiar with the group and with the substantial growth opportunities ahead of us. I would like to thank David for his huge contribution to Sigma as chairman over the last 13 years, and we are very pleased that he is able to remain on the board.”

Sutcliffe added: “I have been a huge supporter of the business and look forward to helping Graham and the team take its growth to the next level in the years to come.”

Last week, Sigma reported full-year results which it described as “very encouraging”. Revenue in 2019 was up 11 per cent to £13.9 million with profit before tax up 7 per cent to £13m. The performance reflected the company’s accelerating housing delivery for The PRS REIT fund, which is managed by Sigma.