21 Nov 2019

New finance director at GreenSquare – as credit rating remains positive

Following a full and rigorous recruitment process, Iain Bacon has been appointed as GreenSquare Group's new Finance Director, with responsibility for the Finance, Procurement, and ICT teams. 

Iain is already well known to GreenSquare colleagues having been at the organisation as Interim Finance Director since May 2019. He is a chartered accountant with more than 20 years’ experience in senior positions across a range of public, private and not for profit organisations. He has worked as finance director for One Housing, Viridian and the Guinness Partnership, and previously worked for a range of organisations including Capita Group. Iain is also currently a board member and chair of the audit committee at Silva Homes.

“I couldn't be more pleased that Iain is joining us on a permanent basis,” said Ruth Cooke, GreenSquare's chief executive. “Not only does he have all the technical skills we need, but he also role models perfectly the leadership style and behaviours that we want to see at GreenSquare.

“We have already benefited greatly from his extensive experience and positive approach this year and it's such good news that this will continue to be the case as we move forward with the delivery of our new corporate plan.”

Iain said: “GreenSquare is a really exciting organisation with great people that I’ve enjoyed getting to know over the past few months. I am delighted to be joining the team permanently as we focus on an exciting and important new chapter, taking forward our ‘Simply Brilliant’ corporate plan.” 

Iain has an exceptional track record of transforming financial performance, including at Viridian, a housing association with 16,000 homes and 900 staff. There he managed financial corporate risks, enabling the organisation to regain its V1/G1 ratings from the regulator and deliver continuous year on year growth in net surplus. He was instrumental in the merger with AmicusHorizon, to form Optivo, and developed the corporate finance strategy which delivered a 100% increase in development capacity for the new group.

Coinciding with news of Iain's appointment, Standard and Poors Global Ratings has affirmed its 'A-' long-term issuer credit rating on GreenSquare, with outlook considered 'stable'.

Iain welcomed the news of the credit rating: “The past year has been a challenging one for GreenSquare and this news is a vote of confidence in our business and in its capacity to thrive in the months and years ahead.

“In particular, this positive credit rating supports our plans to raise new finance to fund the development of 1,500 new homes for affordable rent and home ownership between now and 2023.”

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