Savills today confirmed that it had severed its ties with former US partner Trammell Crow following its takeover by rival CB Richard Ellis.

CBRE announced yesterday it had completed its acquisition of the Dallas-based firm, which owns a 19.2% stake in Savills.

CBRE has already told shareholders it intends to sell its assumed shareholding in the Grosvenor Hill-based property services firm.

The two Trammell Crow nominated directors serving on the Savills board, William Concannon and Derek McClain, have resigned with immediate effect.