He is tasked to further develop relationships with brokers and debt advisers
United Trust Bank (UTB) has announced the appointment of Piragash Sivanesan (pictured) as director for intermediaries - property finance.
Sivanesan has worked in the property finance sector for over 20 years with banks including NatWest and Lloyds.
For the last seven years, he has worked on the debt advisory side of the industry, running Totum Finance, a company he founded in 2015 and specialised in sourcing and structuring a wide variety of real estate finance solutions for developers, housebuilders and investors operating across the UK.
In his new role with UTB, Sivanesan will be focused on developing and deepening relationships with brokers and intermediaries, serving SME housebuilder, developer, and property investor clients operating across England and Wales. He will work across UTB’s property development and structured property finance divisions.
The bank said it was continuing its expansion of the division with more locally based property development directors and managers to provide a range of development finance and developer exit solutions.
Read more: United Trust Bank appoints new bridging director.
Sivanesan said. “With economic and political uncertainty the highest it has been for over a decade, UTB believes that by increasing and strengthening ties with experienced advisors, there are opportunities to create relationships which will endure the ups and downs of the economic cycle.”
Commenting on the appointment, Adam Bovingdon, head of property development at United Trust Bank, said Sivanesan would bring a huge amount of experience from both sides of the real estate finance industry.
“The property development and structured property finance teams will benefit from his focus on developing our intermediary relationships,” Bovingdon added.
“We have maintained the momentum from our record year in 2021 and have continued to develop our support of housebuilders and intermediaries across England and Wales. We are looking to continue that growth by increasing and deepening our relationships with brokers specialising in development and real estate investment finance.”
