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A man pulls a suitcase past a branch of Foxtons estate agent, in north London September 3, 2013. Britain's Foxtons priced its London listing at the top of its range, valuing the estate agent at 649 million pounds ($1 billion) and defying concerns the property market is overheating. Foxtons said on September 20, 2013 it had sold a 60 percent stake for 230 pence per share, the top of its original 190 pence to 230 pence per share range. Photograph taken on September 3, 2013. REUTERS/Suzanne Plunkett (BRITAIN - Tags: BUSINESS)

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May 30 (Reuters) - Real estate agent Foxtons (FOXT.L) on Monday named rival Chestertons' boss Guy Gittins as its new chief executive officer, at a time when the London-based company faces pressure from activist investors to start a formal sale process.

Gittins, who succeeds Nic Budden, was appointed just weeks after Foxtons named Chris Hough as its new chief financial officer, and will join in September. Gittins started his career with Foxtons, before leaving it in 2007 to join British entrepreneur Peter de Savary as a sales executive.

His appointment comes two months after Canadian investment fund Converium Capital wrote to Foxtons' board, urging it to sell the company. Converium has a roughly 2% stake in Foxtons.

Gittins had announced his last working day at Chestertons on Saturday in a LinkedIn post. In nearly one decade with the real estate firm, he served for four years as CEO.

Foxtons also said it made a "good start" to the new fiscal year and the financial performance so far was in line with its expectations.

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Reporting by Muhammed Husain in Bengaluru; Editing by Sherry Jacob-Phillips

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