Following an extensive search process, The Housing Finance Corporation (THFC) today announced the appointment of Ian Peacock as its chairman designate. He will join THFC’s board in April 2013 and it is planned that he will take over from the existing Chairman, Roger Mountford, in June 2013 when Roger completes six years’ service, the maximum permitted under the governance guidelines of the National Housing Federation.
Ian brings a wealth of financial experience to THFC, including extensive periods running the Financing Division of Kleinwort Benson and the Merchant Banking operation of Barclays in North America. Amongst a number of other non-executive positions, Ian is currently a Non-executive Director of C. Hoare & Co. and Chair of one the South East’s leading Housing Associations: Family Mosaic. Having completed six years as Chair of Family Mosaic, Ian plans to step down from this position later this year.
In relation to his experience at Family Mosaic, Ian says: “It has been an enormous privilege to Chair Family Mosaic through a period of such change and challenge. In my time as Chair, the Board and Executive have together been able to grow an efficient, can-do organisation in such a way that it is very well placed to succeed in today’s tough operating environment. It is to Family Mosaic’s credit that the Board of THFC should view my experience as being appropriate to carry it forward.”
Piers Williamson, Chief Executive of THFC, said “We are delighted to have attracted in Ian a candidate who has experience of chairing at a senior level and who has been active in the Social Housing sector. We will welcome his strategic input”.
Roger Mountford’s time as Chairman of THFC has been dominated by the period of the Credit Crunch which first reared its head in August 2007, a year after he assumed the role. In the subsequent 5 years, THFC has been able to take advantage of the widespread failure of large bank lenders and almost double its size. It currently lends £3Bn to 144 housing associations across the United Kingdom. THFC has also underlined its position as the European Investment Bank’s preferred lender for UK housing regeneration, and has recently signed a record new £400m deal with EIB to fund energy efficient housing development and retrofit.
Note to editors
THFC is a 25 year old independent, specialist, not-for-profit finance company that makes loans to over 140 Housing Associations, which provide affordable housing to tenants throughout the United Kingdom.
THFC funds itself through the issue of bonds to institutional investors and by borrowing from banks, including the European Investment Bank. It therefore acts as an aggregating financial intermediary, so diversifying risk for those who make funds available to THFC, and reducing the cost and standardising the loan terms for those Housing Associations that borrow from it.
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