Hargreaves Lansdown boss: Gender quotas for firms are 'mad' and men are 'more ambitious and positive' than women

Peter Hargreaves says his company is "very pro-women"

Peter Hargreaves (Hargreaves Lansdown)

Companies should not be forced to hire more women bosses and men are “more ambitious and positive”, according to one of Britain’s top financiers.

Peter Hargreaves, the billionaire co-founder of Hargreaves Lansdown, described as “mad” government plans to ensure one-in-four top executives are women.

A government-backed report by Lord Davies, to be published this autumn, is expected to back such a quota.

But Mr Hargreaves has told the Daily Mail that – while his firm is “very pro-women” - this amounted to “tokenism”.

He said that companies should have the ultimate say on the composition of their boards.

He said: “We’ve always been very pro-women, and having boards with less testosterone can be a good thing.

"But companies should make these decisions for themselves. I don’t think governments should enforce it.

“With men you have a bigger pool to choose from – they tend to be more ambitious and positive.”

“If there is a woman who is more capable than a man to do the job they should get it.

“But they shouldn’t get the job just because they are a woman.”

At present, women account for just 8.6 per cent of directors on FTSE 100 executive committees – management teams that sit just below the board.

The Lord Davies report is expected in October, with companies expected to hit targets within five years.