The National Housing Bank has made a significant move in bolstering its leadership team with four highly experienced individuals. This strategic step is aimed at accelerating the delivery of new homes across England, amidst ongoing challenges in the housing market.
The appointments come as the bank seeks to 'crowd in' over £50 billion of private capital by 2028. This ambitious goal includes facilitating the construction of more than 500,000 new homes. The new team members will play crucial roles in achieving this objective through their expertise in structured finance, equity investment, guarantees, and portfolio management.
Steve Willingham joins as Executive Director for Debt with over 35 years' experience in real estate finance. His background includes senior roles at HSBC, Blackrock, and Merrill Lynch. Jennifer Murray has been appointed Executive Director for Equity. With 25 years of experience in real estate investment and fund management, she currently serves as Director of Products, Equity and Partnerships for Homes England and the National Housing Bank. Barry Fowler takes on the role of Executive Director for Guarantees, drawing from significant experience at Aviva Investors and Lloyds Banking Group. Conan McKenzie has been named Chief Investment Officer, bringing a decade of experience in illiquid and alternative investments as previously Managing Director and portfolio manager at BlackRock.
The appointments demonstrate the bank's commitment to a multi-faceted approach to housing finance, aiming to unlock investment across various market segments. The UK housing market faces ongoing challenges, including affordability issues and a persistent supply shortage. With average UK house prices remaining historically high, according to recent data from Rightmove, regional variations continue to be observed, though price growth and transaction volumes have shown a mixed picture in recent months.
The new senior leaders will play an instrumental role in structuring innovative financial products and partnerships designed to attract institutional investors into the housing sector. Their collective experience is expected to enhance the bank's ability to navigate complex financial landscapes and deliver on its promise of accelerating new homes creation, thereby addressing a critical national need.