Legal & General has appointed former Keepmoat director Ben Denton as MD of its affordable homes division.
Mr Denton was group director of strategy and business development at Keepmoat Regeneration for two years until October 2017.
He then moved to Sovereign Housing Association where he has served as executive director of property and development.
Mr Denton is one of three senior appointments at L&G’s affordable housing arm as the business prepares to ramp up output to deliver 3,000 homes a year by 2022.
Ian Graham has been named chairman of the business, having previously headed up law firm Trowers & Hamlin’s housing and regeneration division.
The affordable homes division has also brought in former Origin Housing chief executive Karen Wilson as a non-executive director.
L&G head of affordable housing Simon Century said the new appointments would help the business meet its target.
He said: “With only 30,000 affordable homes delivered in the UK each year, and a waiting list of 1.3m, there is an urgent need to close this gap.
“Our new affordable housing business is based on a financially sustainable model, putting together a capable and experienced team to support our ambitions to effect real change in this sector.”
L&G entered the affordable homes market in April this year with the plan of working with housing associations to deliver new homes.
The company previously moved into the private housebuilding and build-to-rent markets in April 2013 with the launch of Legal & General Capital (LGC), with a stated aim to capitalise on underinvestment and low innovation in the sector.
L&G has invested in a modular housing factory in Leeds in an attempt to deliver new homes more efficiently.