This follows the firm's recent introduction of a head of portfolio management
Specialist development finance lender Blend has announced the appointment of Duncan Armstrong (pictured) as credit specialist and portfolio manager.
Armstrong brings with him more than 25 years of industry experience working within the SME market, most recently as credit operations manager in the development finance team at Secure Trust Bank. Prior to that, he was a senior member of the portfolio management team at Pluto, where he managed new and existing lending propositions and provided development finance and bridge lending solutions to UK-based property developers.
He was also a credit risk team leader within the real estate development finance team at NatWest. He started his career at Lloyds Bank where he held various roles, primarily as business banking manager for the SME trading customers.
With Blend, Armstrong will be bringing his residential development portfolio management experience across Blend’s specialist development finance offering. He is also expected to play a key role in the research, analysis, and development of new strategy and product ideas designed to complement Blend’s existing product line-up. Based in the firm’s London head office, he will work in close collaboration with the lending team, headed by managing director David Alcock.
Armstrong’s recruitment follows Blend’s recent appointment of Claire McGirr as head of portfolio management, and of several other industry experts to lead and expand its nationwide development lending efforts. Over the past few months, the company has also welcomed a team of senior bankers and credit specialists to its lending team.
“We are incredibly pleased to welcome Duncan to Blend and believe he will bring a wealth of experience to our portfolio management team,” Alcock commented. “He has an impressive track record working for over 25 years within the development finance market with some of the most prestigious firms in the sector.
“Blend was built to be home for incredibly talented and skilled property and finance professionals. Duncan personifies active portfolio management at its very best.”
Commenting on his appointment, Armstrong said he was excited to join Blend, which he noted had been “building a team with world-class experienced people, technology infrastructure, and flexible funding.”
“More importantly, we have a shared belief that an active portfolio management process is required to be not just a lender, but a solution-focused lender as we at BLEND are,” he added. “I am enthusiastic about the opportunities in front of us, including our timing, and cannot wait to get started.”
