Hargreaves 'in a daze' as £3bn HL heads into the FTSE 100
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Hargreaves Lansdown founder and executive director Peter Hargreaves says he did not expect Hargreaves Lansdown to be a FTSE 100 company for at least another three years.
The firm has been promoted to the FTSE 100 with a market capitalisation of £3bn.
It was founded by Hargreaves and Stephen Lansdown in 1981 and the pair still own 52 per cent of the company.
The firm floated in May 2007 at 160p a share and the share price has since risen fourfold.
Hargreaves stepped down as chief executive of the company in April last year, with chief operating officer Ian Gorham taking over the role.
Lansdown stepped back from his executive director role to become non-executive director in August 2010.
Hargreaves says: “I am in a daze. I thought that to out-grow some of the companies in the FTSE 100 would not be a realistic goal until 2014 but what has happened in markets has completely changed that.
“It is a fantastic testament to our model and our levels of service. We have shown that we can withstand these volatile markets we have seen in the past few years.”
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