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Former Hyde boss takes up non-executive role at for-profit provider
Elaine Bailey, former chief executive of 50,000-home Hyde Group, has been appointed as an independent non-executive director at Residential Secure Income (ReSI).
Ms Bailey was in charge of Hyde for five years before announcing plans to retire in April 2019.
The company is a real estate investment trust (REIT) that also manages for-profit wholly owned subsidiary ReSI Housing.
Her appointment is effective immediately and comes as Mike Emmerich informed the board of his decision to step down as non-executive director.
Since it launched in 2017, ReSI has acquired a portfolio of 2,678 homes, of which 2,223 are retirement housing units, 166 are shared ownership homes and 289 are temporary accommodation units leased to local authorities.
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Last month, the parent of ReSI’s fund manager, ReSI Capital Management, was acquired by asset management giant Gresham House as part of the latter’s plans to expand within the social housing sector.
Robert Whiteman, chair of ReSI, said: “It is a pleasure to be welcoming Elaine to the board of ReSI.
“Her achievements at Hyde Group speak for themselves, demonstrating an intimate understanding of the UK social housing landscape and associated challenges, alongside the ability to deliver meaningful change.”
Ms Bailey is also a member of the Industry Safety Steering Group, formed by Dame Judith Hackitt in the aftermath of the Grenfell Tower fire to drive building safety and cultural change.
Before joining Hyde in 2014 Ms Bailey held several senior prison-related roles at outsourcing giant Serco.
