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Pallas Capital eyes Qld expansion with new hires

The non-bank lender has announced three new appointments to its Brisbane team as it looks to enter the Queensland market.

Bianca Wise, Darragh O'Riordan, and Peter Blanc have been welcomed to Pallas Capital in their new positions as partner — distribution, head of origination — Queensland, and senior credit manager, respectively.

Ms Wise’s responsibility as Pallas Capital’s partner distribution will be to grow the non-bank lender’s investor base of high-net-worth individuals, family offices, and financial planners.

She brings 27 years of experience working in business development roles on behalf of large wealth managers in Australia.

Prior to her role with Pallas, Ms Wise had a six-year tenure as manager for business growth with MLC Wealth, where she worked on growing MLC’s investment platforms across the financial planning industry in Queensland.

Mr O'Riordan will be in charge of overseeing real estate debt and development transactions across Queensland.

He carries 20 years of experience working within the banking sector domestically and in Europe and has held a number of strategic roles with Bank of Queensland, Commonwealth Bank of Australia, ANZ, and Bank of Ireland.

Pallas stated Mr Blanc will be “instrumental” in overseeing the lending process, structuring, and approvals in his role as senior credit manager.

Mr Blanc has 15 years of experience in senior banking, finance, and credit management roles, having worked as a senior credit manager at Balmain Corporation and was at the helm of all facets of property lending such as structuring and analysis of construction, investment, mezzanine, and equity financing.

Executive director at Pallas Capital, Mark Spring, commented on the new hires: “In a competitive market such as the non-bank lending space, it can be difficult to find senior personnel that align with the skill set and expertise that a leading company such as Pallas Capital requires as it continues to grow.

“We feel extremely excited to welcome Bianca, Darragh and Peter to the Brisbane office as it expands, bringing with them a wealth of experience to their various roles.”

Pallas Capital offers brokers and developers lending solutions “tailored to their needs”, along with offering borrowers five core loan types including acquisition, pre-development, construction, residual stock, and vacant land loans.

Pallas secures funding for commercial property

The non-bank lender secured more than $500 million of funding to offer $1 million–$10 million loans for commercial property pre-development in late-2021.

Coined the Pallas Funding Trust, the initiative was intended to provide funding to a range of pre-development loans, residual stock loans, and investment property loans.

[RELATED: New non-bank fund launces for commercial property]

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