Sources told CN Mr Chandler is expected to move to Wates, which last week launched a new residential arm.

Wates directed enquiries to Skanska, which declined to comment on the move.

Mr Chandler has been with Skanska since 1982 and was MD of its commercial building business before being made an executive VP in 2010.

He had responsibility for Skanska UK’s operating units for buildings.

It is understood senior staff were informed about the departure this week, with an internal announcement and press release expected to follow today.

Among Skanska’s wins this year was its first deal for Derwent London: the £45m design-and-build contract for the Copyright Building.

A Skanska spokeswoman confirmed Mr Chandler will depart the firm at the end of 2016 and that he had resigned from Skanska UK’s executive management team with immediate effect.