The Housing Finance Corporation (THFC) has appointed an HSBC executive to a newly created role as it eyes further growth.
THFC has named Arun Poobalasingam as its first head of relationship management and business development
The affordable housing aggregator has named Arun Poobalasingam as its first head of relationship management and business development. Mr Poobalasingam has spent the past 13-and-a-half years at HSBC, including the past five as its head of social housing.
THFC, which works with around 160 housing associations, said his appointment was tied to a move to develop its environmental, social and governance (ESG) activity.
Last month, Social Housing revealed that THFC was planning to covert nearly £1bn of existing social housing capital markets issuance to social bonds through its subsidiary Blend, a move it has now completed. The strategy followed the launch of a new social bond framework.
Mr Poobalasingam said: “I am truly passionate about providing good quality, sustainable housing in the UK and am delighted to have the opportunity to focus on and continue to help the sector achieve those objectives in this new role.”
He will start with THFC in mid-to-late summer, a spokesperson said.
Piers Williamson, chief executive of THFC, said: “It’s fantastic that we have been able to attract Arun to join our team at such an important juncture.”
THFC, which was established in 1987, claims to be the largest mutual lender to the housing associations sector, with lending totalling £7.5bn. It now also operates through its subsidiary Blend, which was established in 2018.