The Housing Finance Corporation (THFC) has appointed Fiona MacGregor to its board as one of two new non-executive directors.
MacGregor is the chief executive of the Regulator of Social Housing (RSH) and replaces Will Perry, the RSH’s director of strategy, who has completed his maximum term as non-executive director.
Also joining the board in a non-executive director position is Gail Teasdale, chief executive of Broadacres Housing Association, who is representing the National Housing Federation (NHF), of which she is a board member.
Teadale has replaced Catherine Ryder, who left the NHF in February 2023.
To avoid potential conflicts of interest, the THFC said that neither MacGregor nor Teasdale will be members of its Credit Committee.
Piers Williamson, the THFC’s chief executive, 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.”
MacGregor, as RSH nominee director, 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.”
Teasdale, as 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.”
The two non-execs are join the board on the crest of a wave, as the organisation marks what it says has been a successful 2022/23 financial year.
THFC ended 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, the organisation said, and a continued “selective focus” on the “credit fundamentals” of its housing association client base.
George Blunden, THFC’s chair, 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.”
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