In a statement, Living Ventures Group's managing director Tim Bacon said Byrne would be joining him and business partner Jeremy Roberts as a shareholder and director of the company's latest project - The Restaurant at Manchester House - to help them realise their 'vision for a multi-level, world class dining experience.'
Byrne, owner of the Church Green at Lymm, became the youngest chef to gain a Michelin star at 22 while working at Adlards in Norwich, and has made the North West his base since leaving The Dorchester at the end of 2008, so is seen as the ideal choice.
He also told BigHospitality in February that he had been on the lookout for a site for a fine-dining restaurant in Manchester.
He said: "I have a couple of sites in mind. It needs to be right and will not be too stuffy. Manchester is a younger market and so we'll need to keep it modern and funky. Once we've found that I'll probably base myself there."
Meanwhile, Bacon, who aims to open the restaurant at Tower 12 in Spinningfields, formerly known as Manchester House, in March 2013, has made no secret of the fact he wants a Michelin star.
He told Restaurant magazine last month that the restaurant was being opened with the sole aim of gaining the accolade.
"There's no other reason for doing it. It's not about making money," he said. "If, in two years' time, it's successful and profitable but hasn't got its star then I'll probably be going 'hey, who needs one?' But it's more about extending the dining range in Manchester".
Despite having a vibrant restaurant and bar scene, Manchester has not held a Michelin star since 1974. Juniper restaurant in Altrincham was the last restaurant in the region to be awarded a Michelin star in 2008, which it lost the following year.
Bacon added: "It is incredible that a city of Manchester's size and pedigree does not have a starred restaurant. There should be three or four at least and we at Living Ventures would like to get the ball rolling. I invite other chefs and proprietors to join in the endeavour."