Hargreaves Lansdown managing director of corporate and pensions Alex Davies has resigned with immediate effect to pursue other interests.
Davies, who has been with the firm since 1999, sat on Hargreaves’ board and oversaw corporate and personal pensions business.
No plans have yet been made for a replacement for Davies.
Hargreaves Lansdown chief executive Ian Gorham says: “Alex Davies has been a major contributor to Hargreaves Lansdown over the years and it has been a pleasure to work with him. We wish him all the best in whatever he chooses to do in the future.”
Davies says: “Hargreaves Lansdown is a superb company and has been a fantastic place to spend the last 15 years. I wish it every success in the future.”
Aurora Financial Planning chartered financial planner Aj Somal says: “At the moment there needs to be reform of the annuity market because commission is still payable on non-advised sales. It is inevitable the FCA will look at reforming that and all the operators in the non-advised sector, including Hargreaves, will have a challenge to address their business models and relationships with providers.”