Executive housing, strategic land, and joint ventures and development operations will now operate out of Wates Residential Developments. Paul Phipps, formerly of Taylor Woodrow, will lead it.
Chief executive Struan Robertson said the move was part of a strategy to consolidate the group's activities. He said: "Developing our residential arm in this way will enable us to continue to innovate in the housing sector."
He added that the move was already improving profitability.
Phipps was a main board director at Taywood and was responsible for its worldwide housing and land development activities. In the 1980s, he was managing director of one of Alfred McAlpine's regional housing businesses.
Neville Tullah, currently managing director of Wates Homes, will leave the company next June.
