Towergate today announces that Patrick Snowball has decided to step down from the Board of Towergate Partnership (“TPL”).  He will remain Chairman of Towergate Financial Services (“TFS”) where he will also retain a shareholding.

Since joining Towergate in May 2007, Patrick has focused on building TFS and assembling a high quality, experienced management team.   Patrick remains firmly committed to building this leading financial services business under the Towergate brand, with plans to acquire and consolidate IFA companies across the UK. TFS will continue with its planned recruitment of a Chief Executive to join Patrick in leading the TFS proposition.

Peter Cullum, Executive Chairman, said, “Patrick has done a great job in establishing and developing the TFS business, which is now up and running. I look forward to continuing to work with him on TFS, and entirely understand his reasons for wanting to pursue a broader range of interests.”

Patrick Snowball said, “The plan when I joined was to build a financial services business and to help lead Towergate towards and beyond an IPO which, due to prevailing market conditions has inevitably been delayed. I am delighted to continue as Chairman of TFS which allows me the flexibility to pursue other non Towergate related interests.  I am thoroughly enjoying working alongside Peter and, as Chairman and shareholder of TFS, I am committed to ensuring that this will be a great success”.

Media Contacts

Russell O'Connor

Group Communications Manager

Towergate

Tel: 01622 656782

Mobile: 07760 282586

Email: Russell.o'connor@towergate.co.uk