Mitchell, formerly CEO at CAF Bank, will replace Neil Cullum on Cullum’s retirement on July 23, 2014.
In a press release issued on Tuesday, Cullum said he couldn’t think of a better person to be handing the baton to.
David Cobb, co-chief executive of Smith & Williamson, said: “We are very pleased to have Peter joining us. His huge wealth of experience will make a valuable asset to the firm and we look forward to him carrying on Neil’s excellent work.”
Mitchell has over 30 years of experience in the financial services industry, Smith & Williamson said.
The retirement of Cullum follows the departure of Peter Lowe, a partner at Smith & Williamson, who retired in December after 19 years at the firm in a year in which the firm has, among other things, reduced the charges on 13 on its funds and launched a new emerging market value fund.