Stephens Inc. of Little Rock on Thursday announced that general counsel David Knight is retiring after 34 years with the financial services firm.
The move takes effect Friday. Stephens named Rachel Mondl Mayo, who joined the company last year as associate general counsel, as Knight's successor.
Chairman, President & CEO Warren Stephens said Knight has been a "pragmatic and discerning steward" of the company.
"This trust in David began with my dad, continuing with me and now the third Stephens generation," he said in a news release. "We are ever grateful for his governance and leadership and we wish him well in retirement."
Knight said working for Stephens was an "incredible opportunity" that provided him with a varied legal practice across multiple disciplines. But the best part, he said, was building long-term relationships with clients and "putting their best interests first."
"In my line of work, it doesn’t get better than that," he said in the release. "It’s been a great adventure."
Warren Stephens described Mayo as a "formidable successor." She previously held senior executive positions at the U.S. Department of Labor, including as chief of staff to former Secretary Eugene Scalia, and as deputy solicitor.
Before her time in government, she worked with Scalia in the Washington, D.C., office of the law firm Gibson Dunn & Crutcher LLP, where she primarily represented firms in the financial industry and other major corporations.
Mayo holds a Juris Doctor from Emory University in Atlanta. She earned her bachelor's at Vanderbilt University.
"One of the things that drew me to Stephens was the name on the door — the Stephens family's commitment to the business over generations is unique in the industry," Mayo said in the release. "I look forward to working with all at Stephens as we advance the firm’s culture of client-driven service and continue to grow the business."