Michael Findlay, who recently retired from Bank of America Merrill Lynch where he was co-head of investment banking for the UK and Ireland, joins as chairman replacing Adrian Martin.

Findlay has spent the last 27 years in investment banking working for firms including Robert Fleming, UBS and Merrill Lynch.

He said: “Morgan Sindall Group is an excellent business, with very strong, strategically important positions across the construction and regeneration markets.

“I look forward to joining the board and working with the company as it continues to build on the significant and exciting opportunities that lie ahead.”

During his career in investment banking, he has advised the boards of many leading UK companies on a wide range of strategic, financing and governance matters.

He is senior independent director at UK Mail Group and chairman of Fin Capital.

Out-going chairman Adrian Martin said: “Having seen progress made in reshaping the business, I feel this is a good time to hand over to a new chair to take the company through the next phase of its development. I am pleased we have found someone of Michael’s calibre and experience.”