The Business On... Peter Hargreaves, Executive director, Hargreaves Lansdown - News - People - The Independent

The Business On... Peter Hargreaves, Executive director, Hargreaves Lansdown


The City is in a bit of lather over Hargreaves Lansdown, we hear?

Well, the Financial Services Authority has announced a potential ban on payments by fund managers to online platforms that sell their products, such as HL's. Investors fear this will force HL to reshape its business model, which is why its shares fell by up to 10 per cent yesterday.



Oh dear, so Peter's cross again?

Are you referring to Mr Hargreaves' tendency to freely voice his fairly trenchant views on everything and anything? Apparently not. HL has issued a rather bland statement explaining that it is "relaxed about the short and long-term outcomes" and had a variety of "proven revenue models" if the FSA does opt for a ban.



Isn't that rather restrained?

Well HL is no longer run by Mr Hargreaves and his partner Stephen Lansdown. Ian Gorham, an accountant by trade who joined the business in 2009, is the chief executive these days. Mr Hargreaves is still a major presence though, boasting the rather nebulous title of "executive director".



What should we make of this?

Mr Hargreaves might be opinionated but he's not stupid. He's steered the the company, which started off as a two-man band, through a plethora of regulatory upheavals over the years and he'll no doubt steer it through this one too. With Mr Gorham's help of course. Citigroup issued a note yesterday suggesting the share-price fall should be viewed a buying opportunity. Shrewd.



A bit of a hit to his wallet though?

Short term, old boy. Mr Hargreaves practises what he preaches. With the exception of his flash car (a £90,000 Audi) he describes himself as a saver rather than a spender. And he puts lots of his money (including the millions he made when HL floated) into the unit trusts his company is so good at selling, rather than buying shares. Don't worry about him.



No chance of fireworks at all?

Have no fears. Mr Hargreaves, who has advocated a flat tax and has furiously described Bristol (where the company is headquartered) as "anti business", won't be quiet for too long. It's not in his nature.

Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs People

HR Manager - London - £40,000 + bonus

£32000 - £40000 per annum + bonus: Ashdown Group: HR Manager (Generalist) -Old...

Talent Manager / HR Manager - central London - £50,000

£45000 - £50000 per annum: Ashdown Group: Talent / Learning & Development Mana...

HR Manager (standalone) - London

Up to £40,000: Ashdown Group: Standalone HR Manager role for an SME business b...

HR Analyst - Banking - Bristol - £350-£400

£350 - £400 per day: Orgtel: HR Analyst - Banking - Bristol - £350 - £400 per ...

Day In a Page

Mystery of the Ground Zero wedding photo

A shot in the dark

Mystery of the wedding photo from Ground Zero
His life, the universe and everything

His life, the universe and everything

New biography sheds light on comic genius of Douglas Adams
Save us from small screen superheroes

Save us from small screen superheroes

Shows like Agents of S.H.I.E.L.D are little more than marketing tools
Reach for the skies

Reach for the skies

From pools to football pitches, rooftop living is looking up
These are the 12 best hotel spas in the UK

12 best hotel spas in the UK

Some hotels go all out on facilities; others stand out for the sheer quality of treatments
These Iranian-controlled Shia militias used to specialise in killing American soldiers. Now they are fighting Isis, backed up by US airstrikes

Widespread fear of Isis is producing strange bedfellows

Iranian-controlled Shia militias that used to kill American soldiers are now fighting Isis, helped by US airstrikes
Topshop goes part Athena poster, part last spring Prada

Topshop goes part Athena poster, part last spring Prada

Shoppers don't come to Topshop for the unique
How to make a Lego masterpiece

How to make a Lego masterpiece

Toy breaks out of the nursery and heads for the gallery
Meet the ‘Endies’ – city dwellers who are too poor to have fun

Meet the ‘Endies’ – city dwellers who are too poor to have fun

Urbanites are cursed with an acronym pointing to Employed but No Disposable Income or Savings
Paisley’s decision to make peace with IRA enemies might remind the Arabs of Sadat

Ian Paisley’s decision to make peace with his IRA enemies

His Save Ulster from Sodomy campaign would surely have been supported by many a Sunni imam
'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

'She was a singer, a superstar, an addict, but to me, her mother, she is simply Amy'

Exclusive extract from Janis Winehouse's poignant new memoir
Is this the role to win Cumberbatch an Oscar?

Is this the role to win Cumberbatch an Oscar?

The Imitation Game, film review
England and Roy Hodgson take a joint step towards redemption in Basel

England and Hodgson take a joint step towards redemption

Welbeck double puts England on the road to Euro 2016
Relatives fight over Vivian Maier’s rare photos

Relatives fight over Vivian Maier’s rare photos

Pictures removed from public view as courts decide ownership
‘Fashion has to be fun. It’s a big business, not a cure for cancer’

‘Fashion has to be fun. It’s a big business, not a cure for cancer’

Donatella Versace at New York Fashion Week