For-profit recruits Orbit’s finance director to board

Prior to joining Orbit, Mr Wallbank led the European treasury function for US retailer GAP Inc.

The new Sparrow NED has just completed his term of office as an independent member of the board at Rooftop Housing Group, where he was deputy chair of the audit and risk committee.

Sparrow’s appointment completes its board. The board is chaired by David Avery, a former chair of Clarion, and also comprises Amanda Davies, Eamon Ray, Andrew Rose and Sarah Wall.

Mr Avery said: “We’re extremely pleased to welcome Jonathan to complete our board. His extensive experience in leading and guiding a large registered provider will add value and further expertise to Sparrow’s board.

“As chair of the ARAC, his insight will help determine strategy and direction, as well as identifying and assessing risks and developing mitigation strategies. I am delighted to welcome him and eager to work closely with him as we look to the future.”

Mr Wallbank said: “Having spoken with David and the board and hearing their vision, exciting times lie ahead for Sparrow and I’m eager to play my part.

“I am looking forward to bringing my board and business experience to Sparrow Shared Ownership. I believe my background and experience within large, complex organisations will play a crucial role in helping Sparrow achieve its overall business strategy.”

As part of Sage’s results for the calendar year of 2023 when it owned Sparrow before the sale and rebrand, Sparrow reported an annual rise in operating profit from £35.2m in 2022 to £48.2m in 2023.

Meanwhile, turnover dropped from £227.2m to £217m and operating costs decreased from £46.4m to £45m.

The provider’s loss before tax was £46.6m, up from a loss of £6.2m in 2023.