L&Q’s longstanding group finance director steps down

The landlord said he had “made a major contribution” towards L&Q’s current position as one of the country’s largest developers and providers of social and affordable housing.

Mr Ahmed said: “It has been a great privilege to spend three decades working for an organisation that has always had social purpose at its heart, and puts residents and communities first.

“I have worked with incredible people over the years, and I know the current team has the talent, ambition and determination to drive L&Q forward and grapple the housing crisis head on.

“I shall be watching their continued progress with pride, and wish them every success as L&Q continues to use its financial strength to tackle the challenges and grasp the opportunities ahead.”

Fiona Fletcher-Smith, chief executive of L&Q, said Mr Ahmed had made “an immeasurable contribution to the sector”.

Ms Fletcher-Smith added: “Most people will know him as L&Q’s financial figurehead, but he has always been happy to share his time and expertise with other like-minded organisations, as demonstrated by his board roles with Crisis and the National Housing Federation

“He has been central to the growth of L&Q over the past three decades, and his legacy can be seen in both the organisation that we are today and the formidable finance team he has led and nurtured, which will now take forward his work.”

L&Q said it is starting the search for Mr Ahmed’s successor “immediately” and is working with Elizabeth Campion, a partner at Michael Page.

The large London landlord’s figures for the 2023-24 financial year showed a post-tax surplus of 268%, while operating surplus more than doubled from £162m to £366m.

In August, L&Q reported a significant downturn in completions and approvals in the first quarter of this year.