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Two executive directors have resigned from The Housing Finance Corporation (THFC).
David Stokes, credit and risk director, has resigned from THFC and will retire at the end of September. Julie Coetzee, finance director and company secretary, has also resigned as a director of THFC, with immediate effect.
THFC said it had started the process of recruiting a chief risk and operations officer and chief finance officer.
“In the meantime, their responsibilities will be overseen by existing experienced permanent and interim resources,” the bond aggregator said.
Mr Stokes has been at THFC for more than 11 years, and previously worked at Santander, the Bank of Ireland and BNP Paribas.
Ms Coetzee had been in the role since January 2023. Before joining THFC, she was at JPMorgan for more than 20 years, where her most recent role was head of global equities external reporting, balance sheet and risk-weighted assets.
Piers Williamson, THFC’s longstanding chief executive, retired in March this year after more than two decades in the role. He was 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.
At the time, he said it had been “a privilege to play a part in growing the long-term investment market for housing associations over such an extensive period”.
Priya Nair replaced him in the role, joining from Abrdn Investment Management, where she was senior director of infrastructure.
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’s leadership.”
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