14 November 2016
Today (Monday 14 November) is the first day of new Sovereign, a 55,000-home housing association created by bringing together Spectrum Housing Group and Sovereign Housing Association.
With a strong regional focus, the new social business can better serve the needs of existing residents by continuing to invest in homes and services as well as being able to build more affordable homes for people in housing need across the south.
The Boards of both organisations had a strategic ambition to become more efficient and effective by growing within a tight geography. As a result, talks began in 2015 about swapping and selling stock, but quickly developed into formal merger discussions.
Having led the merger from conception to conclusion, former chairs Richard Organ and John Simpson have stood down as they came to the end of their terms. A new independent chair, Katherine Innes Ker, has been appointed to take the new business forward.
Katherine said: “Both Boards believed a stronger regional housing association would be best placed to do more for our residents and communities, build more homes and have greater financial resilience, whatever the future may hold”.
Ann Santry, Sovereign’s former chief executive, will lead the new organisation and Richard Hill, Spectrum’s former chief executive, becomes deputy chief executive.
Ann Santry said: “It’s a new beginning, but those long-standing commitments to supporting our communities and building homes hasn’t changed. Together, we’ll have the strength, influence and great people to make even more of a difference for the growing numbers of people who need our support.”