Associations complete merger to form largest older people’s housing provider
Two large specialist housing providers have merged to form England’s largest provider of care and housing to older people.
Anchor Trust and Hanover Housing Association today announced the completion of their mega-merger to form a new 54,000-home behemoth organisation, operating across 90% of English local authorities.
The new Anchor Hanover group will employ 9,000 staff and turnover £530.7m per year, based on the published accounts for 2017/18 for both merging landlords.
The merger plans were first announced in May.
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Jane Ashcroft, former chief executive of Anchor, retains her role leading the new organisation, while Dr Stuart Burgess, former chair of Hanover, will chair it.
Dr Burgess said: “We have ambitious plans and want to provide more services, driven by the needs and aspirations of our ageing society. This could include social rented, shared ownership and outright sale new homes.”
Ms Ashcroft added: “Anchor Hanover provides an exciting opportunity to create a brighter, happier future for more people. Crucially, our new organisation also enables us to offer better career options for colleagues and attract and retain great people.”
Sarah Jones, the former director of finance at Anchor, has been appointed chief financial officer at the new organisation, while Mark Curran, also formerly of Anchor, has been named development director. The non-executive board is split equally between representatives from the two landlords.
Dame Clare Tickell, the former chief executive of Hanover, departs having chosen not to pursue a role in the new organisation.
Last year, Anchor, which owned 35,000 homes ahead of the merger, delivered an operating margin of 6.6% on its turnover of £389.1. Hanover meanwhile, which owned 19,000, delivered an operating margin of 20% on a turnover of £141.6m.
A spokesperson for the organisations said the merger would increase efficiencies, allowing them to negotiate better contracts with suppliers and “pool resources”.
Asked if there would be redundancies as a result, the spokesperson did not rule them out but said: “There will be efficiencies by bringing support functions together over a period of integration. If new posts are created as a result of the merger, we will look to recruit from within Anchor and Hanover wherever possible.
“There will be a period of dual running and it is too early to say what impact the merger will have on overall numbers.”
Anchor currently employs 9,269 people and Hanover employs 753.
The new organisation will have its main office for corporate functions in Bradford.
