Property developer Argent has promoted Gary Taylor and Stephen Tillman as joint managing directors of projects outside London as part of a UK reshuffle.
Taylor and Tillman, both of whom are currently executive directors of Argent, will head up new subsidiary Argent UK Developments.
The new arm will lead all of the company's projects other than the multi-billion pound regeneration of King's Cross in London, which will be overseen by Argent King's Cross.
As well as taking forward the delivery of schemes such as Manchester's Piccadilly Place, the new subsidiary's pipeline will also move Argent forward in part owning, managing or developing more than 10m sq ft of development, with an end value of more than £3.5bn by 2010.
Future projects in Manchester are planned for Stevenson Square in the Northern Quarter and a major redevelopment of Elisabeth House on St Peter's Square.
David Partridge and Roger Madelin, joint chief executives of Argent Group since 2006, will continue their roles but will also oversee the Argent King's Cross subsidiary.
Tillman and Taylor have worked together for almost two decades. Taylor will continue to be based in Birmingham and Tillman in London, and both will report, as previously, to Partridge and Madelin, and to chairman Peter Freeman.
Partridge, who founded the Piccadilly Partnership and is chairman of Cityco (Manchester City Centre Management Company), said: "Gary and Steve will provide significant additional strategic resource to enable Argent to continue to build a lasting presence in Manchester based on the strong relationships that we have already formed within the city."