Paragon Bank’s development finance division has strengthened its presence in the North West with the appointment of Dave Rowlinson as relationship director.
Rowlinson, who will be based in Manchester, has been in the banking and financial services industry for more than 30 years, with previous roles including a recent stint as property director with Oaknorth and as a senior manager with Investec, where he worked for 11 years.
Challenger bank Paragon said that the appointment forms parts of a plan to grow its presence in regional markets. The business’s development finance division specialises in supporting small to medium-sized housebuilders.
Rowlinson said: “Paragon has ambitious plans to grow in the North West, helping to support small-to-medium-sized developers provide much needed new homes across the region. What attracted me to Paragon is the experience and pedigree of the development finance team, its commitment to the sector and its financial strength, being part of a well-established, well-funded FTSE-250 financial services company.
“It’s a serious player in this sector, which is demonstrated by its continued support of developers throughout the coronavirus pandemic. I look forward to working with developers across the North West to help them realise their ambitions.”
Paragon said that its development finance division increased lending to residential housebuilders by nearly £200m during the first half of the company’s financial year, taking its net loan book to over £500m.
Robert Orr, managing director for development finance at Paragon, said: “The North West is a market we know has great opportunity. It benefits from a strong economy, with traditional industries being complemented by high-tech sectors, world-class universities and diverse geography.
“People want to live in this region and Paragon is keen to support developers provide the housing to meet this demand.”