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LSL Property Services chief Simon Embley steps aside

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LSL Property Services group chief executive Simon Embley is to stand aside after 12 years in charge, with former Learndirect chairman Ian Crabb taking up the reins.

Embley will step down on 9 September and move to the role of deputy chairman at the group.

Embley says: “Ian is the ideal candidate to enable LSL to capitalise on the market recovery.”

LSL Property Services made an £8.4m pre-tax profit in the first half of this year, a major turnaround on the £7.9m loss in the same period last year which was driven by valuation claims provisions.

In his time at LSL, Embley has overseen the purchase of failed network Home of Choice for £1.5m in May 2010, network Pink Home Loans for £1.59m in October 2010, and mortgage club The Mortgage Alliance from Santander for £250,000 in July 2011.

Embley was managing director of estate agency Your Move, which was part of Aviva, for 10 years until 2003, before leading a management buyout of Your Move and e.surv in July 2004.

Lentune Mortgage Consultancy director Stuart Gregory says: “It’s a big loss for LSL having lost someone who has been there for so long and who has created his own culture. It can be a bit unnerving and uncertain for the company before the new person declares their plans for the business.”

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