Morgan Sindall Group has named merchant banker Michael Findlay as non-executive chairman of the board with immediate effect.

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.

Mr Findlay, who is also a non-executive director of parcels and logistics firm UK Mail Group Plc, 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.”

Out-going chairman Adrian Martin said: “I was delighted to be asked by the board to take on the role of chairman in November 2012. 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. The business is in excellent shape, with a strong long term order book and solid balance sheet.”