Joining the Wates Group board at the start of 2016, Allen will succeed Huw Davies, who will stand down after a handover period next March.
Under Davies’ decade-long stewardship, the financial performance of Wates remained robust throughout some of the most challenging economic conditions construction has experienced.
Allen joined Crossrail in March 2009 from Laing O’Rourke, where he was finance director for its European construction business.
Andrew Davies, chief executive of Wates Group, said: “David joins us at an incredibly exciting time in Wates’ history as we accelerate towards our ambitious turnover target, with work-in-hand now at its highest in five years and our order book up 50% on last year.
“Focusing on our target sectors and utilising the profit generated to invest in acquisitional growth will propel us further towards a £2bn turnover.”