Boss of Tiuta quits for personal reasons

George Patellis has stepped down as CEO of Tiuta for family reasons.

The former joint managing director of Preferred Mortgages was hired with the task of developing Tiuta as a short- to medium-term lender.

Patellis stated: “I am very proud of all of the progress we have made in developing the business and I have no doubt Tiuta will continue to go from strength to strength and build on these advances.

“It has been an absolute privilege to work with such a hard-working, dedicated and talented group of people.

“Due to personal circumstances it has become necessary for me to return home to America to be with my family, but I take with me many fond memories of my time with the team at Tiuta.”

Steven Nicholas, chairman of Tiuta, commented: “On behalf of everyone at Tiuta I would like to record our gratitude to George for his commitment to the business and its customers.

“George introduced many innovative changes at Tiuta and he will be a very hard act to follow.”

The board has begun a search for a successor and an announcement will be made in due course.

Meanwhile, Steven Nicholas will assume the role of interim CEO.