UK-based retail and commercial bank Shawbrook has expanded its development finance team with the addition of three new relationship directors.

The move aims to strengthen the bank’s regional coverage and enhance its funding solutions for developers and housebuilders.

The three new appointments include Philip Kirkwood, Greg Pescott and Tom Edmunds.

Kirkwood, who rejoins Shawbrook as a senior relationship director after serving at United Trust Bank for a limited period, has more than 25 years of industry experience, including a foundational role in Shawbrook’s development finance team in 2016.

As the new senior relationship director, Kirkwood’s focus will be on originating new deals as well as managing the existing portfolio of housebuilders and developers in the south-east of England, including London.  

His role will also involve understanding the specific needs of each development project to provide customised funding solutions. 

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Meanwhile, Edmunds and Pescott, as the bank’s new relationship directors, will be responsible for covering the Midlands and the Southwest & Wales regions, respectively.

Pescott and Edmunds will concentrate on delivering funding packages that support developers throughout the process, starting from the planning stages through to the final sale of the development projects.

Both will also collaborate with Shawbrook’s panel of brokers to assist new and existing customers.

Financial Reporter quoted Shawbrook development finance managing director Terry Woodley as saying: “We recently surpassed £2bn in lending which makes it an exciting time for the development finance team.

“We are delighted to be expanding the team with some fantastic new hires; it’s great to see Philip return to Shawbrook to be part of the journey, and I look forward to working alongside Greg and Tom as we continue to expand our regional teams across the UK.

“The diverse experience of all our new hires will be fundamental in growing our exposure and strengthening our support for developers, with bespoke funding for their projects.”

In March 2024, Shawbrook launched a new loan product, called CapEx Loan, to support the growth ambitions of small and medium enterprises in the UK.