Paragon Bank

Robert Orr to step down as development finance MD at Paragon Bank



A leadership team change will be taking place at Paragon Bank’s development finance business as of 1st October.


Robert Orr (pictured above) — who is stepping down from his role as managing director — will be succeeded by deputy managing director Neal Moy.
 
However, Robert will still be involved as a part-time senior adviser to the development finance team.
 
“I’m reaching the milestone of 40 years’ full-time working this September and always had in mind that this would be a good time to have a change in my work/life balance,” said Robert.

“I’m really proud of what we have created at Paragon since its acquisition of Titlestone four years ago, and no doubt I’ll miss the buzz of leading this great business.”
 
Robert added he is delighted to continue his ties with Paragon, and his close working relationship with Neal makes him feel certain the development finance team will be in good hands under his management.
 
Under Robert’s guidance, the division has expanded significantly since the business acquired Titlestone in July 2018.

The arm recorded a 41% increase in advances during the first half of Paragon’s latest financial year.

Additionally, it has lent £323.7m during the six months to the end of March, compared to £229.5m during the same period last year.

Its loan book ended the period at £672.9m, a substantial uptick on £552.3m in 2021.

Neal — who joined the business in October 2021 — has a long career in development finance.

As well as founding RateSetter Development Finance — where he was managing director — he has held real estate positions at RBS, Lloyds, and Deutsche Postbank in a 30-year property career.
 
Excited to be steer the helm and lead the business forward, Neal said: “Robert has done an amazing job in growing the development finance capabilities of Paragon over the past four years.

“During this time, he has built a strong team, enhanced the product range, and established a business with an excellent reputation for delivery.”



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