George Patellis has stepped down as CEO of short-term lender Tiuta plc.

He cited family and personal reasons for his departure.

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