Large London housing association Hyde has appointed a managing director at banking giant Lloyds as its new chief executive.
The 50,000-home landlord has named Andy Hulme, who is currently global managing director of real estate at Lloyds Banking Group, as its new chief executive after former boss Peter Denton left to lead Homes England in the summer.
Mr Hulme will take over in early 2022, with Hyde’s chief property officer Neal Ackcral, who has been interim chief executive since July, staying in place until that point.
In addition to his main role at Lloyds, Mr Hulme is on the board of the Housing Growth Partnership, a social impact investor backed by Lloyds and Homes England.
Before joining Lloyds, he held a number of senior roles at the Royal Bank of Scotland, NatWest and retail giant Tesco, where he was head of commercial development.
The move comes as Hyde looks to strike more tie-ups with institutional investors as part of its plan to provide thousands of new energy-efficient homes.
Last year, it signed an agreement with M&G Investments that would see the investor fund Hyde to build 2,000 shared ownership units. M&G will own the units while Hyde manages them on the for-profit provider’s behalf.
Mr Hulme said: “These types of partnerships with institutional investors will be vital, if we’re to overcome the multiple funding challenges we face.”
“I’m looking forward to helping Hyde find new sources of funding, so we have the money to keep developing at the same rate, while ensuring homes are safe, decent and sustainable.”
It is the second major appointment of the year for Hyde. The organisation brought in former Vivid chief Mike Kirk as its chair in April.
On Mr Hulme’s appointment, Mr Kirk said: “I’m delighted Andy is joining us at what is a really exciting time for Hyde.
“His extensive experience in delivering products, propositions and transformative change across multiple brands and channels, coupled with his deep understanding of the housing market, will help accelerate the delivery of our ambitious strategy to become a truly customer-driven organisation.”
Earlier this year, Hyde was named as one of Homes England’s strategic partners and secured £250m, the largest allocation, to start 3,000 homes by March 2022.
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