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BPHA finance boss to leave next month
Paul Gray, chief financial officer at housing association BPHA, will leave the organisation at the end of next month.
BPHA announced that after eight years at the 18,500-home association, Mr Gray “feels it is time for a new challenge”.
The association, which is located in the corridor between Oxford and Cambridge, plans to recruit an interim chief financial officer while it searches for Mr Gray’s replacement.
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Mr Gray said: “I have thoroughly enjoyed working for BPHA over the past eight years, a time that has seen the organisation transformed.
“BPHA today is a very different organisation to the one that I joined and is stronger in every respect. I am pleased to have made a significant contribution to that growth and development and feel now is the time to look for another opportunity to take my career forward.”
He has been in the position since March 2011 and during his time in post has raised or restructured more than £1bn of funding, including issuing BPHA’s first public bond, worth £200m, in 2014.
Kevin Bolt, chief executive of BPHA, added: “Paul has been instrumental in restructuring the finances of BPHA and has played a big part in the organisation’s progress over the last few years.
“I would like to thank him for his achievements and sustained commitment to BPHA and wish him all the very best for the future.”
Inside Housing has asked BPHA what Mr Gray plans to do next.
The Bedford-based landlord saw its surplus jump by 44% in September last year thanks to a boost in its income from shared ownership sales.
It also received a boost from chancellor Philip Hammond earlier this month when he announced that he was allocating money from the Housing Infrastructure Fund to unlock new homes in the Oxford-Cambridge corridor.
BPHA’s credit outlook, however, was downgraded in October last year by ratings agency Standard & Poor’s, which predicted that BPHA’s exposure to market-related activities would increase over the next three years.
