The National Housing Bank has appointed two independent non-executive directors who have extensive careers in the regeneration and investment sectors.
Chris Taylor (left) and Simon Pistell have joined the National Housing Bank’s board
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National Housing Bank strengthens oversight with two appointments #UKhousingChris Taylor and Simon Pistell will help provide strategic oversight and independent challenge to decision-making at the newly opened bank.
Homes England’s National Housing Bank officially opened for business at the end of last month, and marked the launch in parliament with a new prospectus for investment.
Mr Taylor is chair of real estate and a senior vice-president at Federated Hermes. He is also chair of Federated Hermes’ specialist development arm, MEPC, which is a UK placemaking and regeneration developer.
He has overseen major regeneration projects such as King’s Cross in London, Paradise in Birmingham and NOMA in Manchester.
Mr Taylor said: “I am delighted and honoured to take on this role. I look forward to bringing experience in managing investment risk, together with a strong belief that the built environment can deliver meaningful social and environmental benefits while supporting improved productivity. Accessible and affordable housing is central to achieving these outcomes.”
Mr Pistell is a risk director at Legal & General, and has served as chief risk officer at Legal & General Investment Management, the UK’s largest fund manager. In this latter role over the past six years, he has overseen housing and regeneration businesses, with a remit including build-to-rent, affordable housing, Cala Homes and strategic land.
He said: “Accelerating the delivery of affordable homes, regenerating towns and cities, and creating thriving communities are vital to boosting economic prosperity and improving quality of life.
“I’m excited to take on this role and look forward to working with the exceptional teams at the National Housing Bank and Homes England to help deliver these outcomes.”
Pat Ritchie, chair of Homes England, said: “I am pleased to welcome such highly respected professionals to the bank as non-executive directors, bringing valuable expertise and strong independent oversight.
“Clear and robust leadership across both Homes England and the bank is essential to providing the direction, challenge and scrutiny needed. This will help ensure we work cohesively and with a sharp focus on delivering the new homes and thriving places that people across the country need.”
Peter Vernon, chair of the National Housing Bank, said: “Simon and Chris are accomplished leaders and bring to the board the right depth of knowledge, experience and skills to ensure the bank is well governed and held to account.
“I am confident we are building the foundations to help guide a very talented group of professionals who, even at this early stage, are deeply engaged and delivering new investment opportunities and outcomes.”
Announced in June last year, the bank will work with house builders, developers, investors and registered providers to deploy up to £16bn of debt, equity and guarantees.
Homes England hopes the National Housing Bank can leverage in £53bn of additional private investment over the next decade, creating jobs as well as delivering 500,000 new homes.
It will target a range of sites, including larger ones that struggle to get upfront lending due to risk and complexity.
The bank will also work with mayors through Homes England’s new regional model to strengthen collaborative working with partners and leaders.