The chief executive of The Housing Finance Corporation (THFC) will step down after 22 years in the role.
Piers Williamson has led the affordable housing aggregator for more than 20 years
The chief executive of The Housing Finance Corporation will step down after 22 years in the role #UKhousing
Piers Williamson will vacate his role as head of the bond aggregator in March, but will remain with the business for a short transition period before leaving the group at its annual general meeting in July.
Mr Williamson is credited with delivering “two decades of continuous growth” at the organisation.
During his tenure, THFC grew its loan book from £1.4bn to £8bn and expanded its lending remit to all four parts of the UK.
The bond aggregator said that Mr Williamson inherited a “historic high interest cost loan portfolio” and, along with his team, “transformed it to one of the most cost-effective long-term loan portfolios in the sector”.
Mr Williamson said: “It has been a privilege to play a part in growing the long-term investment market for housing associations over such an extensive period.
“Despite all sorts of adversity, housing associations have proved their resilience and represent a prime example of what a public private partnership can achieve.
“Even after 22 eventful years, never a day goes by when I do not learn more about these fascinating organisations and how they change people’s lives for the better. I hope I will be able to stay engaged in some capacity over the years to come.”
He will be replaced as chief executive on 11 March by Priya Nair. She has more than 25 years’ experience in financial services and joins from Abrdn Investment Management, where she was senior director of infrastructure.
Previously, Ms Nair was senior managing director at Royal Bank of Canada with responsibility for coverage of the housing and infrastructure sectors, including THFC.
She has leadership experience across capital markets, corporate finance, digital transformation and securities services, the group said.
She also currently serves as a non-executive director and chair of the investment committee at the Port of London Authority and as a senior trustee of the youth charity Sported.
Ms Nair said: “THFC has a rich history of providing optimal funding solutions to a diverse set of housing associations across the UK, thereby enabling the affordable housing sector to fulfil its social aims. I have known and admired the work of THFC for several years and am greatly impressed by everything they have achieved under Piers’ leadership.”
She said that she believed “deeply in the transformative role that THFC plays as an engine of social mobility and economic prosperity”.
George Blunden, chair of THFC, said: “After more than two decades of serving the affordable housing sector with his vast knowledge and experience, Piers can step down in the knowledge that he has had a truly positive impact on the sector. Working with Piers has been a pleasure and his commitment to the sector will be sorely missed. We thank him for his many years of outstanding leadership.”
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