Berkeley has recruited Quintain finance director Richard Stearn to succeed Nick Simpkin, who left Berkeley last month.
However, 46-year-old Mr Stearn is a familiar face at Berkeley, having been financial controller at Berkeley from 2002 to 2011. For most of that period, his finance director was Rob Perrins, who moved up to become managing director in 2009.
Mr Perrins said today: "We are delighted that Richard has agreed to return to Berkeley as finance director and very much look forward to working with him in this role."
On appointment Mr Stearn will receive a basic annual salary of £350,000 plus benefits. Berkeley is also giving him 45,672 Berkeley shares and a £359,842 cash payment in lieu of his entitlement over Quintain shares that will be forfeit when he joins Berkeley
Quintain chief executive Maxwell James wished him well. "Richard has made a huge contribution to Quintain since joining the Company in January 2012,” he said. “Personally, I will miss Richard's valuable input to my team and I would like to thank him for his on-going support over the coming months. On behalf of the company and the board I would like to extend our thanks and wish him well for the future."
The date that the appointment will become effective has yet to be finalised but it will be no later than 30th April 2015.