Hays Property and Construction has confirmed that its managing director Robert Smith is to leave the company.

Smith is believed to have sent an email to his contacts at the end of last month announcing his departure. He will be replaced by deputy managing director Tim Cook, according to reports.

A spokeswoman for Hays confirmed that Smith's departure follows an internal restructuring.

Hays is one of the construction recruiters involved in the Office of Fair Trading's investigation into price fixing in the sector.