Tugwell replaces Louisa Sedgwick, who will be leaving the company at the end of March, following her decision to take up a new role in the autumn.
Tugwell has over 30 years’ experience in the UK intermediary market.
In the past, Tugwell was director of intermediaries at Virgin Money, director of Intermediary Mortgage Lenders Association and spent time at Together.
Anth Mooney, chief executive at Vida, said: “I’m thrilled to announce that Richard will be joining us for the next phase of Vida’s journey.
“We are investing to improve our products, pricing and service levels to take advantage of the growing specialist market post-COVID and, having worked closely with Richard for over 20 years, I know that there is no-one better equipped to help us deliver our growth ambitions.
“I would like to take this opportunity to thank Louisa for her contribution to Vida. She has been an important part of the Vida story and we wish her well for the future.”
Tugwell added: “The specialist lending sector is an important and growing part of the wider mortgage market. Vida has ambitious plans for the future, and I am delighted to be coming on board for the next exciting stage in its journey.
“I look forward to working with Anth again and with Vida’s highly experienced leadership team and can’t wait to get involved.”
