Paragon Banking Group has appointed Richard Rowntree to replace John Heron when he retires early next year.

Rowntree (pictured) will be taking over the reins as managing director of mortgages. He joins from Bank of Ireland where he is managing director of UK mortgages.

Heron said: “A great deal of care has been taken over our search for the new head for our mortgage business and we have seen a number of exceptional candidates.

“I am delighted that Richard is joining Paragon; he has a great track record with experience at a senior level across a number of mortgage segments and is well known for his excellent work at UK Finance.

“Importantly I think Richard’s values are very closely aligned with Paragon’s and I believe he is well equipped to take the business forward.”

Rowntree brings a wealth of specialist banking experience having previously held roles at RBS (Williams & Glyn), Santander, Lloyds TSB and Halifax. He is also the chairman of UK Finance’s mortgage product board.