Mike Hussey now in sole charge of property specialist Almacantar

Property developer Mike Hussey is now in sole charge of Centre Point owner Almacantar after co-founder Neil Jones stepped back from the day-to-day running of the firm today.

The shake-up comes after major shareholders called for the venture to focus solely on the London market. Jones, a Paris-based European property specialist, remains on the board as a non-executive director and shareholder but former Land Securities director Hussey is now calling the shots.

The duo raised more than £150 million from backers including Italy's Agnelli family, which owns Fiat. last year. Almacantar also struck a deal to buy the Marble Arch tower in May and is redeveloping Lord's cricket ground.