Thomas Clowes, aged 32, joined the family firm in 2016 the year after the death of his father, Charles W Clowes, who had started the business.

Another son, David Clowes, now 54, is chairman. He said: “The board of directors voted to appoint Thomas Clowes as managing director. Supported by myself as chairman, and our experienced board members, Tom will lead the team at Clowes as we continue to evolve and strengthen our privately owned property business.”

Thomas Clowes said: “This has never been a sure-thing for me, I started at graduate level and have worked my way through the business, aiming to understand every facet. Nepotism isn’t a word in the Clowes family dictionary.”

Clowes Developments turned over £120m last year and made £41m profit before tax.

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