Newcastle-based wealth management firm Tier One Capital has announced the appointment of Richard McEvoy, which will involve a key role in a major regional property investment fund.
Richard’s primary role will involve credit support to Tier One Capital and building capacity in the prestigious London Stock Exchange-listed TOC Property Backed Lending Trust PLC (PBLT), to which Tier One Capital is appointed investment advisor.
PBLT, which recently secured an additional £8.5m revolving credit facility, delivers development and investment finance, predominantly in the North East, to residential housebuilders and commercial property investors to fulfil demand in the sector.
Richard’s main responsibilities will be in the areas of policy, credit analysis, sanctioning and project management, with support to the growing business at Tier One Capital.
Richard, who has extensive experience working with corporate businesses and SMEs across the region, is highly skilled in corporate finance, business planning and stakeholder engagement.
He joins Tier One Capital, who specialise in private client, corporate and charitable wealth management, following a long and successful career with Lloyds Banking Group in Newcastle.
Ian McElroy, CEO of Tier One Capital said: “We are delighted to have secured the appointment of Richard to this new role and to support our prestigious London Stock Exchange-listed trust. He has a wealth of experience and an exceptionally credible track record in business, finance and stakeholder engagement and he will undoubtedly strengthen and grow the investment opportunities for our investors.”
Richard McEvoy said: “It is gratifying to be so closely involved with the development of this unique investment fund, which is designed to stimulate further growth here in the North East.”
“It is one of the region’s most important investment funds, supporting a range of exciting projects from residential housing to retail, leisure and commercial property.”
Richard’s most recent role was that of Area Head of Manufacturing for SME Businesses in the North East and Yorkshire and last year he was seconded last year to the NewcastleGateshead Initiative for five months to support the management and delivery of the Great Exhibition of the North. He contributed significantly to the delivery of its schools’ programme, which successfully provided more than 90,000 hours of learning and development.
He qualified as a Chartered Banker and joined Lloyds Bank Corporate Markets as a Relationship Director, supporting SMES and regional PLCs based in the oil & gas, construction, manufacturing and the emerging renewables sector.
Richard is an experienced business advisor and mentor, and is currently an advisory board member of Northumbria University within the Newcastle Business School, a board trustee of Mental Health Concern and non-executive director of Insight Healthcare Ltd.