Richardson hires chief for US growth

  Black Country-based developer Richardson Capital has appointed a new chief executive of business development to target the US and to continue its push into Europe.   Hugh Ellingham has joined the group to set up a London office. West End premises are being sought.   Ellingham – managing director of investment and development firm Somerston Capital for the past four years – will lead the acquisition drive for Richardson.   The group is already involved in retail-led projects in Germany, Austria, Italy and France, as well as large-scale mixed-use schemes in Canada.   Director Lee Richardson said: “This appointment is part of the natural progression of our increasing presence in London.   “During the past 10 years, our intention to become more involved in overseas activity has seen our international business profile grow substantially. Some 60% of our current business is outside the UK, and we have planned growth to 80% in the medium term.”   He added: “We believe that the market in the US is so bombed-out at the moment that there have got to be some great opportunities arising in the next 12 months.”   lisa.pilkington@rbi.co.uk