The changes see Paul Shields, who has been Finance Director at Cairn for 17 years, and long-serving sales and investment director Jennifer McGonigle appointed as joint managing directors. Additionally, Fiona Herbin has been promoted from associate director to letting director, having been with the company since 2007.

As finance director, Mr Shields has been responsible for the company’s long-term financial health and growth while seeking to establish strategies that will earn profits.

He said: “I’m delighted to assume the role of joint managing director alongside Jennifer to navigate the future growth of the firm within a dynamic legislative landscape that has changed radically over the last decade, presenting both challenges and opportunities.”

As sales and investment director, Ms McGonigle has been responsible for sourcing and selling investment opportunities for UK and overseas clients with a particular focus on HMO (house of multiple occupancy) investments and portfolio management, managing the estate agency divisions in Edinburgh and Glasgow and adding value to properties for landlords through developments and refurbishments.

She said: “Having relished the roller coaster of trends and changes in the property market at Cairn through the last 13 years, I look forward to deploying the experience and knowledge gained in both sales and letting as joint managing director alongside Paul to the benefit of the firm.”

Ms Herbin has been promoted through the ranks from branch manager to associate director where she oversaw all letting valuations for the Glasgow branch.

Commenting on her new role, she said: “I’m delighted to have been given the responsibility to assist our existing landlords grow their portfolios at a time when legislative changes and the introduction of Private Residential Tenancy impact on letting agencies and landlords, ultimately in our clients’ best interests.”

Of the management restructure David Rowand, chairman of Cairn Group, said: “Congratulations to Paul, Jennifer and Fiona, whose promotions are richly deserved. All three have been instrumental in the growth and development of the firm to date over an extended period of time.

“The consistency and excellence of service they have given our expanding client base over many years has been the foundation upon which Cairn has been built.”

Cairn’s management restructure follows a period of expansion via acquisition over recent years which has seen the firm acquire JJM Properties in Glasgow, Grange Letting in Edinburgh, Stephen McIntyre Letting in Portobello, Glasgow-based Rannoch Property, Clyde PM, the factoring arm of estate agent Clyde Property, and the Scottish arm of Glasgow-based Nationspaces Developments.

The firm now employs a staff of 25 and aims to double its turnover to £3 million and portfolio to 2500 units under management within the next five years through its ongoing expansion strategy.