Pallas Capital appoints Darren Rix as head of credit risk

Pallas Capital has appointed Darren Rix as head of credit risk, strengthening its UK management team. The appointment follows sustained growth for the firm, creating the need for a dedicated senior credit risk function.

Rix commented, “Having worked through the financial crash and several cycles since, I know what disciplined credit risk looks like when markets get difficult, and what it takes to back the right developers through them. Pallas Capital has real ambition, and this is a fresh challenge for me. I want to help build the business into a formidable lender and the go-to name in our market.”

Part of the Pallas Group, Pallas Capital specialises in the investment management of structured debt products, providing bespoke finance solutions to borrowers seeking competitive funding for commercial development projects.

Rix brings 37 years of banking experience, including 28 years focused on corporate real estate and credit risk. His career includes senior roles at Barclays, Bank of Scotland and Santander. He joins from Hampshire Trust Bank where he was head of real estate credit risk. 

Looking ahead, Rix will now oversee Pallas Capital’s applications process, credit papers and lending decisions, increasing the business’s capacity to serve bridging and development brokers and borrowers. As the firm’s clients contend with labour and material costs remaining elevated, and political and economic uncertainty continues to weigh on decision-making, this advice will be crucial to their development.

Uliana Kuzmis, chief credit officer at Pallas Capital, added, “Darren is one of the strongest credit professionals I have ever come across. His experience spans multiple cycles and covers exactly the segment of the market we focus on: bridging for experienced borrowers and development finance for SME and mid-level developers. Darren’s appointment reflects the scale our UK team and pipeline have reached, and the importance we place on maintaining rigorous credit standards together with speed and efficiency as we grow. He is a strong addition to Pallas’ management team, and I’m looking forward to working closely with him again.”