Broadstone Pensions & Investments chief executive David Pitman has resigned from the company to head up a private equity’s firms IFA acquisition strategy.
Pitman (pictured) has been replaced by Mark Howlett who was formerly head of the company’s corporate benefits division.
Pitman is set to take up a new role at Broadgate’s parent company, private equity firm Oakley Capital, which plans to make further acquisitions in the IFA market.
Oakley Capital acquired the firm, then called BDO Investment Management, in November 2010 and rebranded it Broadstone in May of this year.
Howlett previously worked in financial planning and retirement services at PIFC Consulting, which was acquired by AXA-owned Thinc in 2007, and has since been absorbed into rebranded Bluefin.
A spokeswoman for Broadstone said Pitman would be spearheading Oakley’s acquisition strategy which included buying both IFA and corporate advice firms over the next few years.