Royal Bank of Scotland corporate banking finance director Graham Clemett is leaving to become finance director at newly-converted REIT Workspace Group.

Clemett will replace Mark Taylor who is retiring after 12 years as Workspace’s group finance director. The property company has given no date for the move.

Tony Hales, chairman of Workspace, said: ‘Graham brings considerable experience as a financial director in the financial services sector, both through his time with RBS and at Reuters before this.’

During Taylor’s time as finance director Workspace grew from market capitalisation of less than £50m to over £850m and he played an active role in the company’s REIT conversion.

“The Board has accepted Mark's decision reluctantly and is discussing with him the transitional arrangements which will include a period of overlap,” said Hales.