Almacantar co-founder Neil Jones steps down

Co-founder and joint managing director of Almacantar Neil Jones has stepped down in an executive capacity from the company.

Jones decided to stand down following a business review of strategy which resulted in the decision to focus Almacantar’s operations on Central London. He now intends to pursue new opportunities on the continent.

Jones will continue to hold a shareholding in the company and remain on the board as a non-executive director.

Commenting on his decision to step down Neil Jones said: “Given the way in which investors are allocating their capital to property companies, our shareholders have expressed a clear preference for a single City strategy and we have, therefore, made the decision to focus on London.”

“As a result, I have decided to pursue new opportunities in Continental Europe, which is where I live and where I have established a successful track record.”

Almacantar’s chairman Pierre Martinet said: “Having made the decision to focus Almacantar’s investment activities in Central London, we are completely supportive of Neil’s decision to pursue new opportunities in the Continental European property markets and wish him every success in the future.”