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THFC names new finance and risk directors
The Housing Finance Corporation (THFC) has made two new hires to its senior leadership team.
Ben Rick has been appointed chief finance officer and Martin Fent will take on the role of chief risk and operations officer. Both will report to Priya Nair, chief executive of THFC.
Mr Rick will start on 4 November, while Mr Fent will join in January 2025. Both will become members of THFC’s board of directors.
Mr Rick will oversee THFC’s finance, treasury and sustainability activities. He is currently a senior advisor at Lloyds Banking Group, where he focuses on housing strategy and increasing lending to SME providers of social and supported housing.
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He is the co-founder of Social and Sustainable Capital, a social investment fund manager. He has also held roles at Merrill Lynch, UBS and Lehman Brothers.
Mr Fent is currently chief risk officer at Cynergy Bank. He previously spent 15 years at NatWest Group, where his most recent role was chief risk officer for RBS International.
In his new role, he will be responsible for risk management, operations, governance and compliance.
In August, THFC announced that David Stokes, credit and risk director, had resigned and would retire at the end of September.
Finance director and company secretary Julie Coetzee also resigned with immediate effect.
THFC said the new hires align with its new strategy, which aims to “unlock innovative private capital” and build partnerships, including an agreement with the newly launched National Wealth Fund.
Ms Nair said: “Ben and Martin bring a wealth of knowledge and expertise and will be instrumental in implementing THFC’s vision and strategy.
“Our evolved mission will see us build on our heritage by utilising our skills and expertise in complementary and socially impactful ways.”
THFC’s most recent results revealed its highest pre-tax surplus ever. It said the results take its reserves to over £62m, representing a more than doubling over the past seven years.
The news was followed shortly afterwards of a credit rating upgrade from A to A+ by S&P Global.
“We’re at a pivotal point for the housing sector, where funding and sustainability are front and centre of every conversation,” Mr Rick said.
Mr Fent added: “I’m excited to join the team and play my part in supporting the business, enhancing its operational effectiveness and the sector’s sustainable growth ambitions.”
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