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UTB appoints head of originations

Jake Carter

April 20, 2021

United Trust Bank (UTB) has appointed Paul De Croos as head of originations – property development.

De Croos, who joins UTB from the Bank of London and the Middle East (BLME), has taken over the role from Adam Bovingdon, who was recently appointed head of property development following Noel Meredith’s retirement in March this year.

De Croos has over 19 years’ experience in corporate banking and has held the position of head of real estate finance at BLME since 2016; prior to that, he spent 15 years working with RBS in several senior roles.

From 2010 to 2016 he was director – real estate finance, managing a senior debt portfolio in excess of £2.2bn.

De Croos will be responsible for managing UTB’s team of 23 property development directors and managers as they continue to develop relationships with existing clients and introduce UTB’s offering to new SME housebuilder and developer customers across England and Wales.

Adam Bovingdon, head of property development at United Trust Bank, said: “Paul joins us at a very exciting time for the bank’s property development team and I’m sure his experience will enable us to maintain our growth and deliver the bank’s plans for the future.

“We’ve expanded our coverage across England and Wales and are involved in several initiatives to help SME house builders access the funds they need, including the recently launched £250m Housing Accelerator Fund with Homes England. There will be more exciting news from UTB in the coming weeks.”

De Croos added: “United Trust Bank’s successful property development team have established a reputation for professionalism, dependability and a deep understanding of the house building industry.

“I’m looking forward to getting to know the other members of the team and ensuring we continue to build on their success of 2020 both this year and beyond.”


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