The Housing Finance Corporation appoints two new non-executive directors
The Housing Finance Corporation (THFC) has appointed two new non-executive directors to its board.
Fiona MacGregor, chief executive of the Regulator of Social Housing (RSH), becomes the new RSH nominee director. Fiona replaces Will Perry, director of strategy at the RSH, upon the completion of his maximum permitted term under THFC’s rules for non-executive directors.
THFC has also appointed Gail Teasdale, chief executive of Broadacres Housing Association and board member of the National Housing Federation (NHF), as its new NHF nominee director. She has replaced Catherine Ryder, who left the NHF in February 2023.
It is intended that neither of the two will be members of THFC’s Credit Committee to avoid potential conflicts of interest.
These new appointments coincide with the stepping down of Gill Payne and Peter Impey, who completed their nine-year terms of office as of 28th July 2023.
The announcement of these two new appointments comes off the back of a successful 2022/23 financial year for THFC.
THFC ended the 2022/23 financial year with a £4.61 million post-tax surplus and a group loan book of £8.13 billion, in addition to retaining the group’s ‘A’ S&P rating and bLEND’s ‘A2’ Moody’s rating. These results are a testament to the inherent strength of THFC’s business model and a continued selective focus on the credit fundamentals of its housing association client base.
Piers Williamson, chief executive of THFC, said: “We are delighted to welcome Fiona and Gail to our Board. Both individually bring enormous practical experience and insight to our organisation and further cement the stewardship we have enjoyed from both the regulator and the industry representative body over the last 35 years. The sustainment of these stakeholder relations is first rate evidence of patient capital in action.”
George Blunden, chair of THFC, added: “As the social housing sector works its way through a period of economic and political uncertainty, I am delighted to welcome two key sector leaders to help THFC continue providing first class financial products and related strategic advice to the 150+ housing associations we serve.”
Fiona MacGregor, RSH nominee director to the board, said: “I am delighted to be joining the board of THFC as the Regulator of Social Housing’s nominee and look forward to working with the board to ensure that THFC remains an important part of the social housing sector in the years ahead.”
Gail Teasdale, NHF nominee director, added: “I am pleased to join THFC’s board as the nominee of the NHF. THFC is an essential funder to the social housing sector, and I look forward to helping deliver much needed investment in new and existing homes across the UK.”