Paragon Bank has announced the appointment of Louisa Sedgwick as managing director of its mortgages division with immediate effect.

Sedgwick, who has been with Paragon since April 2023, succeeds Richard Rowntree, who will be starting a new role within the financial services industry.

With more than 30 years’ experience in the mortgage industry, Sedgwick was most recently Paragon’s commercial director of mortgages and has overseen the restructuring of the mortgages sales function and product offering, bolstering its focus on networks and clubs.

Previously she was managing director for specialist mortgages at Hampshire Trust Bank and prior to this she held roles at Vida, Leeds Building Society and Bradford & Bingley.

Paragon has also announced that Russell Anderson, who is currently the customer retention & partnerships director, will become the commercial director, taking over Sedgwick’s current responsibilities. Lisa Steele, currently the head of mortgage underwriting, is promoted to mortgage lending director.

Sedgwick said: “I’m excited to get started in this new role and am proud to be leading Paragon’s mortgages division into what will be its 30th year in the buy-to-let market.

“Under Richard, and John Heron before him, Paragon has developed into the leading specialist buy-to-let lender in the market, enjoying an excellent reputation and boasting one of the best teams in the business. I look forward to building on their fantastic work.

“We are entering an exciting phase of our development with the imminent launch of our new, bespoke mortgage origination platform, with further digitalisation programmes also in the roadmap. With the buy-to-let market increasingly driven by portfolio landlords, we are well-placed to benefit from market growth.”

Nigel Terrington, Paragon Banking Group’s chief executive, added: “We are delighted that Louisa is stepping up to the mortgages managing director role. Her extensive experience and esteemed reputation in the mortgage sector, coupled with her dynamic leadership and strategic vision, make her the ideal candidate to steer Paragon towards our next stage of development and success.

“Richard leaves with our thanks and gratitude. He has made a huge impact at Paragon over the last five years, not only in driving forward our mortgages digitalisation programme and the broader growth in new lending, but also for his work in social mobility through initiatives such as Progress Together. We wish him well for the future.”

Rowntree said: “I’d like to thank the whole Paragon team for their support and friendship since I joined in 2020. I’m immensely proud of what we’ve achieved together and wish everyone well for the future.”