Tiuta PLC has announced the appointment of a new non-executive director.

Andrew Townsend will join the short-term loan lenders board of Tiuta from today, subject to FSA approval.

Townsend has held a number of senior executive positions in the financial services sector including managing director of The Beacon Group which he co-founded in 2004.

Other companies where he has held executive director level positions include Southern Pacific Mortgages, First National and the Household Mortgage Corporation (HMC). He has also worked at Abbey, Lehman Brothers and AXA Equity & Law.

Townsend’s appointment follows that of Simon Engelsman to the Tiuta Board last month.

Steven Nicholas, CEO at Tiuta, said: “It is important for Tiuta that we continue to add depth and experience to our Board and therefore we are pleased to welcome Andrew’s appointment as our newest Non-Executive Director.