Ray will be based in the company’s new head office in Fenchurch Street, London, and will cover the Midlands, London and South East.
He joins Paragon from Shawbrook Bank, where he worked for two and a half years, most recently as a relationship director.
Prior to this, he held roles at various companies, including The Ingenious Group, Secure Trust Bank, NatWest and Santander.
His appointment takes Paragon’s relationship director team to 13, supported by 16 portfolio managers.
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“I’m excited to join Paragon; the company is building a fantastic reputation in the development finance market for delivery and has recorded strong growth in the past three years,” said Ray.
“I’m joining an experienced relationship director team and I’m looking forward to hitting the ground running and supporting new and existing clients.”
Robert Orr, managing director at Paragon Development Finance, said: “Ray has enjoyed a strong period at Shawbrook, so we are pleased to have recruited somebody with his experience and sector expertise.
“He will complement our existing relationship director team and I’m confident will be a great success.”