Metropolitan merges with Thames Valley Housing

The combined group is one of the UK’s largest housing associations, holding 57,000 homes spread across London, the South East, East Midlands and East of England.

Geeta Nanda, who replaced Brian Johnson as Metropolitan chief executive in October 2017 and was previously chief executive of Thames Valley for more than nine years, now takes up the same role at MTVH. Meanwhile Paula Kahn, who chaired the Metropolitan board from 2013, becomes chair of the organisation.

The partnership plans to deliver up to 2,000 homes a year, of which around 80 per cent will be affordable, Ms Nanda said.

“Housing is at the centre of many of society’s challenges and this partnership is the start of an exciting journey,” she added. “We will be firmly focused on improving things for our customers and communities – current and future. We’ll have a great local offer for people, and build the right partnerships to achieve our goals.”

Ms Kahn said: “Organisations like ours are judged by the extent to which they truly listen to their customers and communities. We need to work together to ensure everyone has the opportunity to live well, with services they value and can trust. MTVH has the experience and will to do things differently in order to make this a reality. That will be our focus in the coming months.”

Metropolitan had a gross turnover of £266m in 2017 and its gearing stood at 37 per cent. Thames Valley’s gross turnover was £109m, with gearing of 50 per cent.

Under the restructure, Thames Valley Charitable Housing has transferred its engagements to Metropolitan Housing Trust, and Metropolitan Housing Trust has become a subsidiary of Thames Valley Housing.