Notting Hill Genesis names new chief financial officer

Mr Smith takes over from Susan Hickey, who has been interim chief financial officer at NHG since May 2023. The two will work closely together to ensure “a seamless handover”, the landlord said.

Mr Smith said: “I’m very happy to be joining Notting Hill Genesis, with its good reputation for financial competence and innovation.

“I’m excited by the vision set out in the ambitious Better Together strategy, which relies on stable financial foundations if it is to genuinely improve our existing homes and services to residents, at the same time as building much-needed new homes for Londoners.

“The housing crisis is most acute in London so an opportunity to join Notting Hill Genesis, a not-for-profit housing provider offering homes that Londoners can afford whatever their personal circumstances, was extremely attractive. I am looking forward to playing my part in an organisation that can make a genuine difference.”

Patrick Franco, chief executive of NHG, said: “In a field of strong candidates, Mark stood out as the best. There’s no doubt that we are operating in an increasingly challenging environment, so Mark’s leadership experience across many financial disciplines will be invaluable.

“His property experience is extensive, but coming from outside the sector and with 10 years at a FTSE 100 company, he will add fresh perspectives and thinking. Mark’s appointment caps a year of change at Notting Hill Genesis and adds further momentum to our improvement plans.

“I would like to thank Susan for her outstanding interim support. She has made a significant impact in a short period of time and has laid strong foundations for Mark to build on.”

In November, NHG reported a 79% decrease in its half-year surplus, which was caused by a sharp fall in sales and higher operating costs. It booked a surplus of £106.1m for the last financial year, despite a sharp fall in turnover from sales and development.