His wife Judith is also taking a six-figure flutter on her husband's business prowess.
Greg Fitzgerald, unveiled as the new chief executive of Bovis Homes on 5th April 2017, has bought 134,369 shares at a price of 926p each, making a stake of £1,243,730.17.
Judith Fitzgerald has invested £145,590 on 15,825 Bovis shares.
On his appointment, Mr Fitzgerald said that "Bovis has a great brand, excellent people and a high quality land bank".
Bovis is paying Mr Fitzgerald a basic salary of £650,000 a year, with the opportunity for him to double that with bonuses. His remuneration package also includes up to £650,000 in shares to compensate for having to relinquish investments at his former employer Galliford Try to take up the Bovis job. It is not clear whether his £1.2m position in Bovis Homes includes those shares that are part of his welcome package, or whether that will be a separate transaction.