A top level reshuffle has been announced by Maximus, the West Midlands development and investment group founded four years ago by developer Dick Hickton.
Paul Jones, who joined the group two years ago, becomes managing director while Lee Turner, who arrived last June, is appointed finance director.
Mr Hickton becomes chairman.
The move coincides with the firm's acquisition of 220 acres at Clay Cross, North Derbyshire, for residential and mixed use development.
Mr Jones, aged 32, was formerly a director of Insignia Richard Ellis, working in the Birmingham investment department.
Mr Turner, who is also aged 32, was until last June manager of Meriden Corporate Finance and prior to this was in practice with Hamiltons advising a range of property based and other clients.
Maximus, which is based at Worcester, was launched in 2001 after Mr Hickton demerged his property interests from those of the Barberry Group, which he co-founded in 1981.
The company plans to redevelop the Clay Cross site - the home to the former Biwater foundry originally established by railway pioneer George Stephenson - to create employment and build new homes.
Some 110 acres of the complex, close to the centre of Clay Cross and four miles from Junction 29 of the M1, have been allocated for employment, mixed use and residential development.