The decision follows the retirement of executive director and head of the bank’s property development division, Noel Meredith.
United Trust Bank (UTB) has appointed Adam Bovingdon (pictured) as head of property development.
Bovingdon is currently the division’s head of originations, having joined the bank in 2014.
He has spent the last 15 years working in the property finance sector developing and managing a portfolio of clients.
The decision to appoint Bovingdon follows the retirement of executive director and head of the bank’s property development division, Noel Meredith.
Meredith joined UTB in 1999 when the bank had 10 employees.
Bovingdon said: “Noel has been a big part of UTB for over two decades and having posted a record breaking year in 2020 he’s leaving the property development division in particularly good shape.
“He’s been an excellent mentor and I’m pleased we’ll continue to benefit from his vast knowledge as he becomes a consultant to the bank.
“I’ve spent the last 18 months leading the property development originations team, recruiting experienced people and expanding our coverage across England and Wales.
“We will continue to provide outstanding, reliable service to our clients throughout the economic cycle.
“We have just launched the Housing Accelerator Fund with Homes England and are well placed to continue the growth and success of the business.
“I am looking forward to leading the team as we set out to become the first choice specialist lender for housebuilders, developers and introducers.”
Meredith added: “I’ve thoroughly enjoyed the last 20 years helping to build United Trust Bank into an established and highly respected specialist lender.
“It’s given me great satisfaction seeing the new housebuilders and developers I formed relationships with as a BDM 20 years ago flourish into successful and sustainable businesses with UTB supporting their growth over many years, through every crisis from Credit Crunch to COVID-19.
“Over that time I’ve worked with many of the best people in the industry, not least the fantastic, committed and talented property development team we’ve assembled at UTB.
“I will no doubt miss the camaraderie of working in such a vibrant environment, but I’m leaving the Bank in great shape and looking forward to watching UTB write the next exciting chapter of its remarkable story and improving my handicap when my golf club reopens!”
