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Susan Hickey, former chief financial officer at Peabody, has been appointed as non-executive director of Saltaire Housing, which will run the government’s Affordable Homes Guarantee Scheme (AHGS).
Ms Hickey was appointed by global investment manager ARA Venn, which was awarded the AHGS contract last year to provide £3bn of cost-effective long-term loans to registered providers in England.
The scheme will be run by ARA Venn’s wholly owned subsidiary Saltiare Housing, whose board currently includes former housing secretary Mark Prisk, social housing finance professional Sarah Wall and former M&G Investments director Oriane Auzanneau.
Loans through the scheme, which will run until for three years with an option of a two-year extension, are underwritten by government and will aim to deliver 17,000 new affordable homes.
Ms Hickey joins the organisation after having spent 10 years as chief financial officer at Peabody and a further eight years in the affordable housing sector at Hastoe as finance director.
Richard Green, partner and portfolio manager of AHGS at ARA Venn, said: “We are delighted to welcome Susan to the board of Saltaire Housing.
“Her proven leadership experience and track record in risk management will be invaluable in supporting the successful delivery of the Affordable Homes Guarantee Scheme.”
Susan Hickey commented: “I am very pleased to play a part in the vital role of financing the increased supply of new affordable homes in England.”
The AHGS is available to finance social rent, affordable rent and shared ownership housing in England. The previous version of the scheme, the Affordable Homes Guarantees Programme 2013 to 2016, was run by bond aggregator The Housing Finance Corporation and regularly offered rates of below 2%.
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