Barratt Development’s regional managing director for London has been suspended after being arrested by the Metropolitan Police yesterday morning
Alastair Baird and one other former Barratt London employee were arrested following a referral in April 2016 by Barratt to the Metropolitan Police, following an internal investigation.
Following an internal audit, the housebuilder launched an investigation into possible misconduct in the process for awarding and managing ’certain material and sub-contract supply contracts’ in the London region.
According to the AJ’s sister title Construction News, Barratt subsequently appointed an accounting firm to conduct an external review of its controls on its tendering and procurement processes within its London business.
Barratt said that its procurement process in London differed from wider group processes, ’reflecting the non-standard and one-off nature’ of London construction projects.
Since the external review, the group said it has adopted additional controls on its business.
The firm added that it did not expect any adverse financial effects from the investigation to date.
Gary Ennis, regional managing director for Barratt’s southern region, will take interim responsibility for London following Mr Baird’s arrest.
Barratt CEO David Thomas said the firm would ’continue to co-operate fully with the Metropolitan Police’ and would continue to conduct its own investigation.
’We are committed to meeting the highest ethical standards in all aspects of our business,’ he said.
’We have acted decisively, launching our own thorough and comprehensive investigation and referring the matter to the Metropolitan Police.’