Sovereign has hired Ken Youngman as its interim chief financial officer (CFO) after saying it expects to need extra financing.

The 61,000-home housing association yesterday announced the appointment of Youngman following the resignation of current CFO Tracey Barnes for unspecified “personal reasons” last month.

Youngman, who served as finance director of Family Mosaic for 16 years before its merger with Peabody in 2018, joined Sovereign yesterday. He will initially work through a handover period before taking over as interim CFO on 19 November.