Oval's Mitchell to retire in June

Oval financial services chairman Steven Mitchell (pictured) is to retire on 31 May, coinciding with the group’s financial year end, chief executive Peter Blanc has confirmed.

Mitchell has been replaced as director of Oval’s financial services division by William ‘Billy’ Johnson who will take over responsibility for managing strategy, financial performance, operations and key external relationships. He has also been appointed to Oval’s senior executive board.

Johnson joined Oval at its inception in 2003 and was previously head of Oval’s employee benefits division. Prior to joining Oval he worked at Bland Bankart and Alliance & Leicester.

Mitchell joined Oval in 2007 following the consolidator’s acquisition of his independent financial adviser firm Ward Mitchell, becoming head of private clients following the sale. He was appointed as head - and later executive director - of the financial services dvision in April 2008, and became chairman of the division in June last year.

Mitchell has had a long and distinguished career in financial services starting at financial adviser’s Pointon York 40 years ago where he became a member of the board before leaving to set up Hornbuckle Mitchell in 1982.

After the sale of Hornbuckle Mitchell to IBC, he formed Ward Mitchell in 1994. Oval acquired the business in November 2007.

Blanc said Mitchell had been instrumental in restructuring Oval Financial Services to meet the demands of the Retail Distribution Review, and had been central to the drive for ever higher professional standards in the business.