Bank celebrates 40th anniversary
This year marks a proud milestone for Paragon Banking Group: 40 years since their founding in Solihull, and 30 years since Nigel Terrington became chief executive.
This year, the firm are taking a moment to reflect on their journey, celebrate their achievements and reaffirm their commitment to the local community that has supported them from the very beginning.
Paragon first launched in 1985 as a specialist residential mortgage lender. Over the years, they have evolved into a diversified, FTSE 250 specialist bank, pioneering buy-to-let lending in the 1990s before expanding into consumer finance, motor finance and commercial lending.
2014 brought transformation as they obtained their banking licence and launched Paragon Bank, enabling them to offer savings products and broaden their lending capabilities.
Throughout this journey, Solihull has remained their home. It’s where their headquarters are based and where many of their 1,400 employees live and work. Over the past four decades, the town has emerged as a vibrant business hub, and Paragon Banking Group say they are proud to have played a part in that journey - creating local jobs and investing in, and contributing to, the local economy.
To celebrate their 40-year anniversary, they have launched a series of events to honour their heritage and look to the future. These include, for example, a celebratory dinner with past and present board members, as well as a birthday lunch for all employees turning 40 this year.
They have also created a time capsule to be buried at their head office, capturing memories from 2025 for future generations of Paragon employees and the wider Solihull community.
Nigel Terrington, CEO of Paragon Banking Group, said: “On a personal note, this year also marks 30 years since I became CEO. To commemorate this, I recorded a podcast with one of our development consultants, Rachael Arundel, reflecting on the journey so far.
“I’m also looking forward to our upcoming ‘30 under 30’ event, where I’ll be hearing directly from younger colleagues about their aspirations and ideas for the future – and most importantly, how Paragon can support them to make them happen.”
Beyond business, Paragon remains deeply committed to the communities they serve. Through their employee volunteer scheme, every colleague is encouraged to take a paid day each year to support local causes. Last year alone, for example, they contributed over 460 volunteering days to local organisations, including Oasis Mental Health Support and The Children’s Storehouse, as well as local schools Alderbrook School, Solihull Sixth Form College, Cheswick Green Primary and Reynalds Cross School.
The firm also raised over £48,000 for their charity of the year, Molly Ollys, based in Warwick, which supports children with life-threatening illnesses and their families, and this year the firm say they are delighted to be supporting Guide Dogs with an array of fundraising activities.
Looking ahead, as part of their long-term commitment to the region, the firm are also investing in a decarbonisation project at their head office, which will reduce their operational emissions to reach net zero by 2030.
Nigel continued: “Many will also be aware that Solihull’s first ever Pride event will be taking place in September. As a major employer of the town with the values of respect and fairness at our core, I’m proud to share that we’ll be a sponsor for the celebrations, with many of our Homer Road staff looking forward to taking part in the parade.
“As we celebrate these milestones, I want to thank the Solihull Chamber of Commerce and the wider business community for your continued support. Paragon’s story is deeply intertwined with Solihull, and we remain committed to investing in people, innovation, and community for the next 40 years and beyond.”
