<p><span>Noel Meredith, United Trust Bank’s executive director and head of its property development division, has announced his retirement on March 31. Adam Bovingdon, the division’s head of originations, will take over as the bank’s new head of property development.</span></p> <p><span>Meredith, who will become a consultant to UTB, joined the business in 1999 when the bank had only ten employees and a modest loan book of £9.9 million, “comprising entirely of development finance loans”.</span></p> <p><span>UTB said he had since played an “instrumental role” in the bank’s growth. Meredith joined the board of directors in 2010, helping to build a successful specialist bank with a property development loan book which currently stands at around £1 billion.</span></p> <p><span>Meredith most recently oversaw the creation and launch of the £250 million Housing Accelerator Fund. A five-year partnership between UTB and Homes England, this offers financial support to SME housebuilders in building their schemes.</span></p> <p><span>Joining UTB in 2014, Bovingdon currently manages the bank’s development finance originations team. He has spent 15 years in the property finance sector developing and managing a portfolio of clients.</span></p> <p><span>Meredith said: “I’ve thoroughly enjoyed the last 20 years helping to build United Trust Bank into an established and highly respected specialist …