Business news in brief: Innes Smith Innes Smith has been appointed managing director at Springfield Properties, one of Scotland's largest privately-owned housebuilders. The company now operates from 20 sites across Scotland and expects to build about 400 homes this year. Sales at the company's northern developments are bucking a number of trends in the housing market, with a new 30-home site in Elgin selling out in just a few weeks. Avaloq buys into German market Financial software firm Avaloq, which established its UK development centre in Edinburgh last year, has acquired a German software outfit for an undisclosed sum. Chief executive Francisco Fernandez said the deal to acquire Höll Computer & Software would provide Avaloq, which has an office in Frankfurt, "with an immediate footprint of numerous important customers in Germany." Aberdeen opens New York office Aberdeen Asset Management has opened an office at in Fifth Ave, New York, as it expands its business in North America. Sir Peter Westmacott, British Ambassador to the United States, Roger Cornick, Aberdeen's chairman, and Martin Gilbert, Aberdeen's chief executive, marked the occasion. The New York office will serve as a business development and marketing centre for the company. Laing now owns 100% of hospital John Laing Infrastructure Fund has completed the acquisition of an additional stake in Larbert's Forth Valley Royal Hospital taking its ownership to 100 per cent. Andrew Charlesworth at fund manager John Laing Capital Management said: "Ownership of this high-quality asset offers an exciting development for the fund, and represents the second completed acquisition following the recent capital raise."