L&Q names new group finance director

Mr Ahmed will work with L&Q to support the handover and begin an advisory role to explore ways to increase investment into affordable housing, the landlord said.

Mr Farnsworth joined L&Q as a graduate trainee in January 2005 and is a qualified accountant. He held roles such as director of business planning and development finance before becoming deputy group finance director in 2019.

He is also co-chair of Barking Riverside; chair of the audit and risk committee at North London Muslim Housing Association; and chair of the National Housing Statement of Recommended Practice working party, which deals with recommendations for financial reporting and auditing for the sector.

Mr Farnsworth said: “I started my career in housing at L&Q almost two decades ago, and I’m now proud to step into this role in such a values-driven organisation.

“Housing associations play a vital role in supporting the communities we serve, and I’m eager to ensure we remain a resident-led organisation by developing a financial strategy that supports and strengthens our social mission.”

Fiona Fletcher-Smith, chief executive of L&Q, said Mr Farnsworth would be taking on the role “at an exciting time”.

“We’re laser-focused on delivering our corporate strategy to provide better homes, services and outcomes for residents, as well as exploring new opportunities to enable us to continue building the new homes this country so desperately needs,” she said.

The landlord said the recruitment process included stakeholder sessions with the chair of L&Q’s resident services board, and the chairs of its internal colleague diversity networks.

Last week, the association transferred 128 homes to East of England-based Eastlight Community Homes.

In November, L&Q put Metra Living, its £1.2bn wholly owned market rent arm, on the market as part of its return to its core focus on social housing.