THFC announces the appointment of two new non-executive directors off the back of strong year end results
The Housing Finance Corporation (THFC) is pleased to announce the appointment of two new non-executive directors to the board.
THFC welcomes Fiona MacGregor, Chief Executive of the Regulator of Social Housing (RSH), as its 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 is also pleased to announce the appointment of Gail Teasdale, Chief Executive of Broadacres Housing Association and board member of the National Housing Federation (NHF), as its new NHF Nominee Director. Gail has replaced Catherine Ryder, who left the NHF in February 2023.
It is intended that neither Fiona nor Gail 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 9-year terms of office as of 28th July 2023. THFC thanks Will, Gill and Peter for their valuable contributions to the organisation over the last 9 years.
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 £4.61m post tax surplus and a Group loan book of £8.13bn, 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.
To view THFC’s 2022/23 Annual Report & Accounts, please click here.
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, said: “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, said: “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.”
Notes to Editors
About THFC: The Housing Finance Corporation (THFC) is the UK’s leading affordable housing aggregator, with over £8bn of lending to around 160 housing associations in England, Wales, Northern Ireland and Scotland. THFC was set up in 1987 in partnership with the National Housing Federation and what was the Housing Corporation. It now also operates through its subsidiary company, bLEND, which was established in 2018. As a not-for-profit, the group’s surpluses are retained and reinvested to ensure THFC can continue to provide competitively priced funding for HAs long into the future. THFC’s track record of innovation includes some of the earliest green finance products for retrofit and sustainable developments.
For further information contact:
Piers Williamson, Chief Executive
Danielle Hughes, ESG Strategy and Communications Manager