View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
November 7, 2012

Founder Charlie Ellingworth on Property Vision’s MBO

By Spear's

Many will have noted the recent MBO by Property Vision, one of the top property search firms in the UK. While the specifics of the deal are being kept secret, founder Charlie Ellingworth has talked openly about the motivations.

Many will have noted the recent MBO by Property Vision, one of the top property search firms in the UK. While the specifics of the deal are being kept secret, founder Charlie Ellingworth has talked openly about the motivations.

‘The period of ownership by HSBC Private Bank was very fruitful. It enabled Property Vision to expand its footprint across a wide international client base and made the brand recognised across the world.

‘After 2008, however, the rising tide of FSA regulation – to which we were subject as a bank subsidiary – began to be a real headwind for our business as we are regulated by the OFT.

‘Regulation is, of course, fine – but the wrong sort began to make life difficult.’

So will the MBO change the culture of the South Kensington based firm going forward?

‘Property Vision has always had the culture and ethos of entrepreneurs, and all the partners going forward are looking forward to the freedom, opportunities and risks of running our own business again.

‘Our attitude has always been that service must take precedence over process – but this can suffer in the embrace of any large organisation.

Content from our partners
HSBC Global Private Banking: Revisiting your wealth plan as uncertainty abounds
Proposed non-dom changes put HNW global mobility in the spotlight
Meet the females leading in the FTSE

‘So no, the culture and focus has always been there – but yes, a partnership is bound to strengthen both further.’

What’s guaranteed is that Property Vision’s partners will be chomping to pitch for business across the whole financial sector.

‘It’s very exciting,’ confirms Ellingworth. ‘If you don’t like change and new challenges then it’s time for golf, bridge and Saga holidays; I’m at least sixty years away from that!’
 
Read more from Wealth Wednesday

Don’t miss out on the best of Spear’s articles – sign up to the Spear’s weekly newsletter

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network