On September 4th RICS chief executive Louis Armstrong will celebrate his 63rd birthday. The former Navy lawyer has been running the place for more than ten years now.
Last week the annual report showed his total remuneration last year was £406 000. So, there is, quite naturally, some talk of when the expensive ex-Rear Admiral will leave the ship.
But unless the still highly-energetic Armstrong decides to go on his own account it is likely he will reach official pensionable age before retiring.
Yesterday Max Croft of King Sturge was made president. The last thing he wants is for Armstrong to go on his watch. Next July it should be the turn of Robert Peto of DTZ.
Then there is a 50% chance it will be Alan Collet of Allsop, who was yesterday consecrated as vice-president. He does not want to face a new chief executive in 2011 either.
But there is growing pressure on Armstrong. Not to go - but to reduce the subscriptions. They were put up by a whopping 42% in 2004. The RICS now has a £30m rainy-day reserve in the bank.
It is now pouring hard on the big agents who pay the subs on behalf of their employees. Why not do what the architect's professional body has done and cut subs for a year, they are beginning to ask?
