Hargreaves Lansdown chairman to step down

Business-Handshake-General-Hire-Appointment-700x450.jpgHargreaves Lansdown’s Mike Evans has announced he is stepping down as chairman, but will continue in the role until a replacement is appointed.

A sub-committee of the nominations committee has begun the process.

Evans joined the board as a non-executive director in September 2006 and became chairman in December 2009.

He says: “Chairing Hargreaves Lansdown over the past eight years has been a real privilege. I have seen the group grow significantly and establish itself as the UK’s leading retail savings and investments platform.

“I believe the Group is exceptionally well positioned for the next phase of growth under the leadership of Chris Hill and I am immensely grateful to my fellow board members, the founders and all of my colleagues at Hargreaves Lansdown for their support during my tenure as chairman.”

Hargreaves Lansdown’s trading statement published this morning shows the firm attracted £3.3bn in net new business over the four months to 30 April 2017, with year to date net new business of £5.6bn.

Assets under administration rose 10 per cent to £77bn while the year-to-date total net revenue climbed 17 per cent to £315.7m, up from £268.9m in 2016.

CEO Chris Hill says: “We are pleased to report a strong period for net new business, reflecting the diversified nature of Hargreaves Lansdown.

“The breadth of our product offering combined with the provision of high quality services tailored to help meet the needs of our clients has allowed us to deliver significant growth over a period of improving investor confidence. These attributes position us well for the structural growth opportunity in the UK savings and investments market.”