You are viewing 1 of your 1 free articles
Finance boss at Swan leaves after nine months in role
The interim finance director at Swan has left the troubled association after nine months in the role.
In a stock market update, the Essex-based housing association announced that Jeremy Vickers left at the end of September “as planned” following the end of his fixed-term contract.
Mr Vickers, a former executive at Metropolitan Thames Valley, is the second finance boss to leave Swan in the space of 12 months.
He started as interim finance chief in December 2021 after the resignation of former finance director James King.
Mr Vickers’ departure comes just days after nearly year-long merger talks collapsed between Swan and Coventry-based association Orbit.
READ MORE
A merger could still take place however, with Swan now in fresh discussions about a potential “business combination” with major housing association Sanctuary.
Craig Moule, chief executive of Sanctuary, said last week: “Swan has a good geographic [that] fits with our existing footprint and we are aligned on social purpose.
“Any agreement will be subject to detailed due diligence and the approval of boards of both organisations.”
It has been a difficult 12 months for Swan, as the association was downgraded to a G3/V3 non-compliant rating by the Regulator of Social Housing in December.
The regulatory judgement said the downgrade was partly due to a “material deterioration” in its financial position.
In May, Swan pulled out of a partnership with G15 landlord Catalyst to deliver 359 shared ownership homes on an industrial site in east London.
In the same month, it emerged that Swan had breached the Home Standard after it was found to have around 1,500 overdue fire safety remedial actions.
Sign up to the Social Housing Annual Conference 2022
The Social Housing Annual Conference is the sector’s leading one-day event for senior housing leaders, which delivers the latest insight and best practice in strategic business planning. The conference will provide multiple viewpoints and case studies from a variety of organisations from across the housing spectrum, including leaders in business and local and central government.
Join your peers for a full day of intensive, high-level learning, networking and informed debate addressing the most crucial topics surrounding finance, governance and regulation to help the sector understand and manage the pressures it faces.
Find out more and book your delegate pass here.
