George Patellis steps down as Tiuta chief exec

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

Patellis said: “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 family and 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, added: “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.

In the intervening period Steven Nicholas will assume the role of Interim CEO