The Duchy of Lancaster has announced the appointment of its new chief executive officer.
Nathan Thompson, a trained chartered surveyor with 25 years experience in the trade, will take up his new position in August.
The Duchy is currently drawing up plans for Lancaster Castle, which it owns, with a planning application expected next year.
The multi million pound redevelopment of the castle is expected to transform the city’s visitor economy.
Mr Thompson was part of the MEPC plc’s Executive Committee and ran their central London business.
He went on to become a Director of JER Partners, a US private equity fund.
Latterly, he was the managing director of the property division of Forth Ports plc and a member of their group management board. Mr Thompson will also assume the role of Clerk of the Duchy Council, the Duchy’s decision-making body, which is chaired by Lord Shuttleworth, a former Abbey National director and Lord-Lieutenant of Lancashire.
From the May 7 Mr Thompson will begin touring the Duchy’s various properties and estates and officially begins as CEO on August 1.
The current CEO, Paul Clarke, leaves the Duchy after nearly 13 years at the helm.
He said: “I’ve thoroughly enjoyed my time at the Duchy of Lancaster and am pleased to leave it in Nathan’s very capable hands.
“I’m also very pleased that despite recent trends in the broader property market, I leave with the Duchy in a healthy and robust shape and with lots of exciting opportunities ahead of it.”
Mr Thompson said: “I am delighted to be given the opportunity to be part of this historic and prestigious organisation.
“The Duchy of Lancaster has an impressive and diverse portfolio of assets as well as a strong team. I am very much looking forward to working with them and all those involved with the Duchy.”