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Hargreaves Lansdown boss pockets £2.5m pay packet

Chris_Hill_Hargreaves_LansdownHargreaves Lansdown chief executive Chris Hill has received a pay package of £2.5m in the year ending 30 June 2018 made up of a combination of shares, bonuses and pension payments.

Following his first full year leading the company, Hill was given a base salary of £620,000, following a 2 per cent increase in executive salaries across the firm.

Hill also pocketed £164,000 from historic share investing, £11,000 in pension payments, £680,000 from a deferred shares bonus, £23,000 in other cash benefits, and a cash bonus of £1m.

Chief financial officer Philip Johnson, who replaced Hill following his promotion to chief executive in February, had a base salary of £425,000 as well as other benefits to total a remuneration package of £1.4m.

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Hill’s objectives as outlined in Hargreaves Lansdown’s 2018 annual report released today include maintaining and developing stakeholder relationships and evolving client service strategy.

Also listed are maintaining client satisfaction in the context of accelerating digital landscape, and developing the firm’s risk culture to execute strategy to the benefit of stakeholders.

After winning a legal battle with HM Revenue and Customs earlier this year, Hargreaves Lansdown went on to post a pre-tax profit of £292m in its 2017/18 year-end June results.

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  1. Does this not miss the more important story from the Hargreaves Lansdown annual report – that from a turnover of £447m, HL made a profit of £292m. That is to say, for every pound of revenue, HL is making 65p profit. That’s significant in the context of the fact that so many of the other platforms are making a loss (so what’s HL doing that they are not?) and of the FCA investigation into platforms.

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