Paragon Development Finance has appointed Simon Powell as relationship director as it looks to deepen its presence in the North West and widen its reach across regional development markets.
Powell (pictured) joins from Close Brothers, where he spent more than 20 years in property finance, and brings experience across residential development as well as specialist knowledge of student accommodation and build-to-rent.
His arrival comes as Paragon continues to invest in its development finance team and broaden its activity beyond traditional residential schemes. The lender said the appointment would support its ambition to grow lending to SME developers in the North West of England and nearby regions, while also backing its wider move into non-residential segments including build-to-rent.
The hire follows a number of internal changes within the division. Dan Cresswell has been promoted to relationship director from relationship manager, while Lilly Sargeant and Megan Andreou have both moved up to senior portfolio manager. Ben Leigh has also been appointed associate director.
The latest appointment points to a lender seeking to strengthen its regional coverage at a time when developers continue to face a testing market, with funding partners under pressure to combine local knowledge with sector expertise.
Neal Moy, managing director of Paragon Development Finance, says: “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.”
Powell adds: “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.”
