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Update, 1 October 2024: Having been arrested in October 2016 Alastair Baird, former Managing Director of Barratt PLC鈥檚 London division was never charged. After five years the police contacted Alastair Baird via his lawyer on 17 December 2021 to say that the case had been closed with no further action pending.鈥� It is understood no evidence could be found against him.

Barratt Developments has suspended its London regional managing director after he was arrested this morning over allegations of misconduct in awarding contracts.

The housebuilder said that Alastair Baird (pictured) 鈥� and another unnamed former employee 鈥� were arrested by the Metropolitan Police after it referred the findings of an internal investigation to the Met in April this year. Baird has spent nearly 30 years at the business, joining in 1987.

In a biography posted on Barratt鈥檚 website, Baird is described as 鈥渞esponsible for high-value complex residential and mixed-use developments across the capital鈥�.

In a statement to the Stock Exchange, the firm said: 鈥淭he investigation commenced in August 2015 following an internal audit and relates to possible misconduct in the process for awarding and managing certain material and sub-contract supply contracts in the London region. The investigation also led to civil legal action which commenced in October 2015 against an employee who was dismissed in February 2016.鈥�

Barratt said it had appointed 鈥渁 leading accounting firm鈥� to carry out a review of the controls it has in place regarding tendering and procurement processes in its London business.

It added: 鈥淭he results of this review were reported to the Audit Committee. Following this review, Barratt has adopted additional controls. Barratt鈥檚 London procurement processes differ from wider Group processes reflecting the non-standard and one-off nature of London construction projects.鈥�

Company veteran Gary Ennis, regional managing director for Barratt鈥檚 Southern region, who joined the business back in 1995, has been asked to take responsibility for both the London and Southern Regions.

Barratt chief executive David Thomas said: 鈥淲e are committed to meeting the highest ethical standards in all aspects of our business. We have acted decisively, launching our own thorough and comprehensive investigation and referring the matter to the Metropolitan Police.

鈥淚 am confident that Gary Ennis and the London Board will ensure that Barratt London continues to deliver successfully, and remains a trusted, valued partner to its stakeholders.

鈥淲e will continue to cooperate fully with the Metropolitan Police and to conduct our own investigation into these matters. We will take whatever action is required to ensure our values and standards are upheld.鈥�

Before becoming London boss, Baird was was managing director for the Barratt East and West London divisions.

Barratt said that based on the investigation to date, it does not anticipate any material adverse financial effect.