Cushman & Wakefield’s chairman of its capital markets group Tim Sketchley is leaving the company to join Old Park Lane Management as managing director.

Sketchley, who has worked at Cushman for nearly 36 years, is retiring from Cushman at the end of April and will take up his new position at Old Park Lane Management on 1st June 2009. Bryan Laxton, CEO at Cushman & Wakefield in the UK will take over Sketchley’s role as chairman of UK capital markets group working with David Erwin CEO of the UK capital markets group.

Roger Cooke, managing partner of Cushman in Spain, will take over from Sketchley as chairman of the EMEA capital markets board.

Sketchley said he was retiring from the firm ‘as the time has come for me to step aside from the partnership and encourage the new generations of the business to move forwards.

He told Property Week he had been considering his retirement plans for the last year and a half and had made the decision to retire when he was approached to head up the team at Old Park Lane Management.

‘The two things came together at the same time,’ said Sketchley.

Old Park Lane Management is a private investment company based in London and Sketchley will manage its investment vehicle which buys properties in London and western Europe.

He will take over from Patrick Scott who is the current managing director at Old Park Lane Management.

During his career at Cushman, Sketchley managed the firm’s Netherlands office where he spent the first 16 years of his career, before returning to London to establish the Central London Investment team at Healey & Baker. In 2003, he became the chairman of capital markets group and is a member of the UK management committee and an ex-officio member of Cushman’s EMEA Management Board.

He also led the opening of the firm’s operations in the Middle East.

Paul Bacon, CEO of Cushman & Wakefield in EMEA said: ‘Tim has been a driving force in our capital markets business in the UK and beyond. Whilst we are sorry to see him go we are also delighted to see him fullfil a long term ambition to work client side. On behalf of the firm, I would like to thank Tim for his outstanding contribution over many years.’