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Hargreaves ‘in a daze’ as £3bn HL heads into the FTSE 100

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.”



Lansons director says FOS narrowing its ambitions

The Financial Ombudsman Service has shifted its focus from being a consumer champion to concentrate on achieving consistent adjudications, according to Lansons public affairs and regulatory consulting director Richard Hobbs. Speaking at a panel session on the Financial Conduct Authority held by The Financial Services Forum and Lansons last week, Hobbs said the FOS “is […]

‘Government deflected criticism of pension age’

The Government planned last week’s state pension speech to deflect criticism of the rising state pension age and the Hutton report, according to Shadow pensions minister Rachel Reeves. In a speech last week, Department for Work and Pensions secretary Iain Duncan Smith signalled the Government’s int- ention to “fundamentally simplify” the basic state pension. Money […]

Hoban: Solvency II talks have ‘long way to go’

Treasury financial secretary Mark Hoban says Solvency II negotiations have “a long way to go” as the Government attempts to iron-out issues over capital, the standard formula for generating solvency capital requirements and the ‘illiquidity premium’. In a speech at the Association of British Insurers this morning, Hoban (pictured) said any changes to the current […]

MEP Sharon Bowles slams decision not to cut Irish bailout interest rate

Economic and Monetary Affairs committee chair Sharon Bowles has criticised the EU’s decision not to lower the interest rate Ireland pays on loans it received from the European Union in November’s bailout. Last week, Eurozone leaders met in Brussels and agreed to strengthen the bloc’s €440bn rescue fund and lower the interest rates on Greece’s […]


Out from the long grass? An IT and NI merger

Those with a long memory will recall that at the start of the last parliamentary term George Osborne announced his intention to merge income tax (IT) and national insurance (NI).  Headline grabbing as the initiative was, the reality of the complexities, challenges and costs of such a move resulted in this idea being kicked into the political long grass.


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