Towergate has appointed Truett Tate, a director at Lloyd’s Bank, to the board as the consolidator gears itself up for flotation.
Tate will become a non-executive director and will be expected to advise Towergate towards a flotation, which could happen as early as 2013.
Tate is also a non-executive director of BritishAmerican Business Inc. and AFME. He is chairman of Arora Holdings, a director of business in the community and a director and trustee of In Kind Direct. He is a group executive wholesale director at Lloyd's Bank.
Alastair Lyons, non-executive Chairman of Towergate, said: “The appointment of Truett Tate brings to Towergate a wealth of experience and we look forward to having the benefit of his wise counsel as we give effect to our plans for strong and sustained growth.”
Tate said: “I have watched the extraordinary progress of Towergate over the years and have greatly admired the way in which the business has grown through transformational acquisitions and continued to flourish despite varying economic climates. I am very much looking forward to making my contribution to Towergate’s continued successful development”
Peter Cullum, non-executive deputy chairman, said: “We are delighted that Truett’s knowledge and expertise will now be available to the Towergate family. His appointment is another step along the exciting road we have mapped out for the business.”
