Savills has become the second property group in a month to push into the real estate recovery business, after launching a team to help real estate companies and their lenders with their liquidity needs.

The team will be jointly led by John Lyons, the chief executive of Savills Americas, who joined the group when it acquired a real estate investment bank last year that he co-founded, executive managing director Jeffrey Baker, and senior vice-presidents Fredric Leffel and John Wilcox.