Architect of Connells takeover of Countrywide quits

The man who engineered the takeover of Countrywide by Connells is leaving the agency’s parent company, the Skipton Building Society.

David Cutter - who has been with the society for almost 30 years, 13 of which as chief executive - leaves in April.

The takeover, which has resulted in Connells becoming what it calls “the UK’s largest estate agency network”, took place last year. 

It has provided long-term financial stability for Countrywide, freeing it from external debt, and creating a network of some 1,200 offices, although many of the blizzard of different agency brands have remained unchanged.

Commenting on Cutter’s departure, Skipton’s chair - Robert East - says: “David has made an outstanding contribution as group chief executive for the last 13 years and during his 28 year career with the society. He has led the society out of the challenges of the global financial crisis, through Covid and the transformative acquisition of Countrywide Plc by Connells to the robust financial health we enjoy today.”

Cutter himself adds: “After almost 30 years with the society, and over 22 years on the board, having completed the acquisition of Countrywide and with an expected strong financial performance in 2021 against the backdrop of the pandemic, the board and I have agreed that I will step down from my role at the AGM [in April].”