The Davis Cos. has hired Richard McCready as its new president.

McCready will play a leading role in day-to-day management and strategic planning for The Davis Cos., and will serve as a chairman of the executive committee and as a member of the investment committee.

McCready was formerly the COO and executive vice president of NorthStar Realty Finance Corp. (NRF), a publicly-traded commercial real estate finance company with over $10 billion in assets under management. Before that, he was president, COO and director of NRF’s predecessor company, NorthStar Capital Investment Corp. NRF was one of the platform investments of Northstar Capital, and McCready spearheaded and managed the IPO spin off of NRF in 2004. From 1990 to 1998 he was first general counsel and then president, COO and director of Winthrop Financial Assoc.

"I am extremely pleased to have Rick join The Davis Cos. as our new president. He brings a wealth of experience operating and building successful real estate companies, and has proved himself as an outstanding leader," Jonathan Davis, CEO and founder of The Davis Cos., said in a statement. "I look forward to working closely with him to strengthen The Davis Cos. and position our company for the future."