National Housing Bank appoints non-executive directors
Chris Taylor, senior vice president at Federated Hermes and chair of MEPC, and Simon Pistell, risk director at L&G, both have extensive careers in the regeneration and investment sectors and will provide independent oversight to the newly launched public finance institution.
Taylor is also chair of Real Estate and has overseen major regeneration projects such as King’s Cross in London, Wellington Place in Leeds, Paradise in Birmingham, NOMA in Manchester), Silverstone Park, and centre:mk in Milton Keynes.
Pistell has served as chief risk officer for LGIM, the UK’s largest fund manager, and for the past six years as CRO of L&G Capital, overseeing housing and regeneration businesses and with a remit including Build-to-Rent, affordable housing, Cala Homes, and strategic land.
Headquartered in Leeds, the National Housing Bank will provide flexible capital to housebuilders, developers, and registered providers to support the delivery of more than 500,000 homes.
A subsidiary of Homes England, the bank will be able to pull from a £16bn financial capacity and help bolster development by providing debt, equity, and guarantees. The bank should help unlock more than £53bn of private investment over the next decade, according to Homes England.
Chaired by Peter Vernon, the board membership also includes UK government investments representative James Coppin, Homes England board member Ros Kerslake, National Housing Bank chief executive Simon Century, and Homes England chief executive Amy Rees.
Taylor said: “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.”
Pistell 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.
Homes England chair Pat Ritchie said: “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.
National Housing Bank chair, Peter Vernon, 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.”
