Hargreaves “dazed” by FTSE 100 inclusion
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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 is set to be promoted to the FTSE 100 with a market capitalisation of £3bn. The firm was founded by Hargreaves and Stephen Lansdown in 1981 and the pair still own 52 per cent of the company.
He says: “I am in a daze. I thought that to outgrow 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.”
Hargreaves Lansdown floated in May 2007 at 160 pence a share. The firm is currently trading at 645p a share.
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Readers' comments (1)
Duncan Jones | 10 Mar 2011 10:20 am
Arguably the only real success story in our industry. Both founders are to be congratulated on their achievement from back bedroom to FTSE 100 status in just 30years!! However their model however robust is not immune from the threat of banning execution only advice by the EU as has been mooted.Time to take some money off the table guys!!
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