Paragon Development Finance appoints new relationship director

Paragon Bank’s development finance division has appointed Simon Powell as a relationship director, as it looks to strengthen its lending to SMEs across the North West of England and surrounding regions.

Simon brings extensive experience within the residential development finance sector, alongside specialist expertise in student accommodation and build to rent (BTR) projects, having previously spent over 20 years at Close Brothers as a director within the property finance team.

This announcement follows a series of strategic promotions across the division, including Dan Cresswell to relationship director, Lilly Sargeant and Megan Andreou progressing to senior portfolio managers, and Ben Leigh appointed associate director.

Neal Moy, managing director of Paragon Development Finance, said: “Simon brings a wealth of experience and a deep understanding of the development finance market, having worked with developers across a range of sectors. His knowledge, relationships and track record will be invaluable as we look to support more developers nationwide and expand our loan book.”

Simon Powell commented: “Paragon has held a strong reputation in the market for many years, with a well established team and a clear appetite to grow. For me, it was an opportunity to join a respected lender that is actively looking to increase its loan book, expand into new regions, whilst continuing to support developers through a challenging market. I’m looking forward to helping Paragon achieve these targets.”