Paragon Bank’s development finance division has appointed Neal Moy as deputy managing director.
Neal will join the company on 4th October and support managing director, Robert Orr, in the newly created role.
He has 30 years of experience working in the development finance market, having held positions at numerous companies, including RBS, Lloyds Bank and Deutsche Postbank.
He was also the founder and managing director of the RateSetter development finance business before it was acquired by Shawbrook Bank — where Neal currently works as a senior director for development finance.
“Paragon’s reputation in the development finance space has grown considerably over the past three years, and I’m excited to join the company as it looks to build on this strong platform,” said Neal.
“The business has ambitious growth plans and I’m confident that I can help the company achieve those.”
The creation of the deputy managing director role reflects the growth in the bank’s development finance business and its continued ambitions for the future.
Since Paragon acquired Titlestone in July 2018, the company has doubled the size of its relationship team.
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It recently hit the £1.5bn lending milestone in the three years since the acquisition, with plans to accelerate lending going forward.
Robert added: “Neal will bring his wide-ranging real estate experience and energy towards fulfilling our ambitions, which includes further lending expansion, growing our presence outside of Southern England, and broadening our product range.
“This is a strategically important appointment that will bolster our management team experience considerably, and I’m delighted he is joining Paragon.”
Saffron Building Society
Saffron Building Society has appointed Matt Hardy as a development finance manager.
In his new role, he will work with brokers who are in or intend to enter the development finance sector, as well as directly with developers across the country.
Matt joins the business from Cynergy Bank, where he worked as a senior associate.
Commenting on his appointment, Matt said: “I am so excited to be joining Saffron at such an important time in the industry.
“I have spent the most recent years developing relationships in this field, and I am excited to work with Peter Owen [head of property development at Saffron Building Society], and learn from his extensive experience.
“I also join with existing relationships with brokers in this area, so I intend to rekindle those relationships in my new role and hopefully find them the best possible solutions for their clients.”
Peter added: “I am really looking forward to working with Matt as he begins his career with Saffron.
“The unprecedented year and the knock-on effects this has had on the property market has brought some great opportunity for developers that will remain for years to come.
“Matt’s experience and his relationships with brokers in this field will be invaluable in helping us respond to enquiries quickly and efficiently and ensure we are able to provide the quality service we are proud of as this area continues to grow.”