Paragon Bank hires two to bridging finance leadership team
Paragon Bank has appointed Kate Cooper as senior bridging underwriter and Swaraj Dada has head of bridging credit as it continues to build its bridging finance team.
The lender established the division in August, which is being led by Colin Sanders, managing director of bridging finance, ahead of a wider launch.
Dada has 16 years of experience in banking, including 12 years in credit, and most recently helped to establish Afin Bank through to launch. He was also part of the team that established Recognise Bank. Dada has also held roles at RBS and Unity Trust Bank, working in functions to build and scale lending firms and credit operations.
At Paragon Bank, Dada will oversee lending and credit activity across its bridging proposition, including credit policy, risk management, underwriting and portfolio oversight.
Dada (pictured, right) said: “Throughout my career, I’ve been drawn to opportunities where I can help build something from the ground up. Having helped establish and scale several banking businesses, the opportunity to join Paragon and help create a new bridging proposition was a natural next step.
“The market is increasingly looking for credibility, reliability and lenders that do what they say they will do. Paragon’s reputation for integrity and sustainability gives us a unique opportunity to bring greater confidence to the bridging sector, while building a proposition that supports customers and brokers for years to come.”
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Cooper has more than a decade of experience working in specialist property finance, having previously worked at Paragon Bank’s mortgages division between 2015 and 2019. She then joined specialist lender Big Property Finance, where she worked with the management team to develop its bridging division.
Before working in the specialist lending sector, Cooper was at West Bromwich Building Society for eight years, working across multiple functions including underwriting.
Paragon Bank said her background would support the delivery of a seamless underwriting process for its brokers and customers.
Cooper (pictured, left) added: “What attracted me to Paragon was the opportunity to be part of a new proposition from day one, while working for a business with an outstanding reputation and heritage in specialist lending.
“I’ve worked in bridging finance for the past six years and have seen the market mature significantly. Today, bridging is a genuine and increasingly mainstream funding solution for property professionals. Having a trusted and established bank like Paragon entering the sector helps reinforce that evolution and raises confidence in the market as a whole.”
Building the right bridging team
Paragon Bank said it wanted its bridging finance proposition to combine expertise and fast decision-making with the stability and governance of an established banking group.
It will complement its development finance and SME lending businesses within its commercial lending division.
Sanders said: “Building the right team is fundamental to our ambition of creating the most trusted specialist bridging lender in the market. Swaraj and Kate both bring significant experience, deep technical expertise and a genuine understanding of what brokers and customers need from a bridging lender.
“As the market evolves, customers are placing greater importance on certainty, transparency and dependable delivery. These appointments strengthen our ability to provide exactly that.”
