Sovereign and Network announce top team for merged association

Sovereign and Network have announced the makeup of their combined group board and executive teams ahead of their merger to create an £830m-turnover housing association.

Mark Washer, currently boss of Sovereign, will as expected  become chief executive of the enlarged, 82,000-home association, which will be known as Sovereign Network Group.

Current Network chief executive Helen Evans will initially become deputy group CEO.

The associations will merge on 1 October 2023, with Sovereign initially joining as a subsidiary. They would then look to a full amalgamation, in which Network would no longer exist as a separate entity, in April 2025.

The organisations also confirmed Paul Massara, current chair of Sovereign, will become chair of SNG with Network Homes’ current chair Jon Gooding serving as vice-chair.

>>See also: Spinning plates: an interview with Sovereign boss Mark Washer

The merger will create one of the largest housing associations in the UK. The associations plan to invest £9.2bn over 10 years to build 25,000 homes, which is nearly 4,000 more than they were planning to build individually.

In 2021/22 the two organisations had a combined turnover of £666m (see box). The organisations forecast their joint annual income to increase to £830m in 2024/25.

Mark Washer, chief executive of Sovereign, said: “I am delighted to confirm the new executive and group boards for SNG ahead of our proposed merger in October.

“I’m confident that this talented and committed group of leaders will ensure this merger is a resounding success. Each will play an important role in helping to deliver our shared vision: to provide our current and future customers with more, better quality homes in thriving communities, to offer sector-leading services, and create a real catalyst for positive change.”