ARCP Names Hugh Frater Non-Executive Chairman in Board Revamp
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American Realty Capital Properties Inc., the landlord that’s trying to repair its reputation after an accounting scandal last year, named Hugh Frater as non-executive chairman and added another independent director to the board.
Frater is currently chairman of Berkadia Commercial Mortgage LLC, which is owned by Berkshire Hathaway Inc. and Leucadia National Corp. Julie Richardson, formerly a partner and managing director at Providence Equity Partners LLC, also joined the board of American Realty Capital Properties, also known as ARCP, the Phoenix-based company said in a statement Wednesday. The appointments are effective immediately.