The Museum of London has expanded its commercial team with the addition of a director of enterprise.
Richard Sweet joins the museum from charity Shelter where he was managing director of its trading company. Prior to this, he was at Marks & Spencer where he led the retailer's expansion into China.
The new role will oversee the museum's commercial activity currently including retail, licensing and corporate events, plus other profit-making functions.
In addition, the director of enterprise will be responsible for the museum's visitor services team.
All profit generated through commercial activity is reinvested into the museum.
Sweet commented: "Leading international museum brands have used their amazing content as a foundation for enterprise, ultimately securing their future by reinvesting the profit they generate. I am very excited by the potential of the Museum of London to develop its commercial enterprises and become more financially secure through profit-making activitiues."
Between April 2013 and March 2014, the Museum of London generated £905,000 commercial income against a target of £683,000, beating all previous records for the organisation.