About Richard

My career in the construction industry started in 1987 – working for the national contractor Willmott Dixon. I trained as a contractors’ quantity surveyor, and qualified as a Chartered Builder (MCIOB). I had further periods working for a regional property developer; a specialist sub-contractor; and a national house-builder. After further study, I qualified as a Chartered Quantity Surveyor (MRICS) and joined the property division of Cable & Wireless Plc, working within their ‘Caribbean & Atlantic islands’ region, building data centers and other specialist buildings.

In 2001 I joined a surveying practice specialising in corporate recovery and real estate lending risk. The work involved dealing with the aftermath of contractor insolvencies, and assisting banks and other lenders with lending policy and due-diligence of their property and construction business financing.

In late 2008, I co-founded Acasta Consulting Limited. Acasta Consulting Limited carries out work for banks, insolvency practitioners, and surety providers. The work includes property lending due-diligence; business/security review; assisting insolvency practitioners to maximise contract asset recoveries; professional negligence claim work; and assisting surety providers to review bond liabilities and claims. In 2012, the practice expanded into Scotland and the North of England with the incorporation of Acasta Consulting (Scotland) Limited, run by my co-director Symon Legge from the Edinburgh office. In September 2017 I decided to take a career break to return to King’s College to study ‘Big Data’ and data analytics. I wanted to explore how technology could be used to improve the understanding of financial risk within construction and property development. The lending risk and advisory services are carried out within Dashboard Consulting Limited. I am currently developing various lending risk software solutions, including a ‘Big Data’ product to analyse property development lending information (within Proptech Analytics Limited). The system uses a web-based portal and SQL database to collect detailed data on development risk, cost, value, and supply-chain information etc. With the data collected in a standardised format, the database can be interrogated to produce bespoke reports and visualisations – for benchmarking, geo-referenced data, and portfolio risk analyses. The other platform is ‘Constructionomics’ which is a cloud-based platform to review the operational and financial performance of construction companies.

I am a guest lecturer at several universities, delivering talks on Contractor Insolvency and Performance Bonds. I have developed a range of interactive financial models to explain the payment processes within construction, including the impact of an insolvency event, and the operation of performance bonds.