Update: Hargreaves Lansdown CEO refuses bonus

Until Woodford suspension ends

clock
Chris Hill, CEO of Hargreaves Lansdown
Image:

Chris Hill, CEO of Hargreaves Lansdown

Hargreaves Lansdown (HL) CEO Chris Hill has announced he will be waiving his multi-million pound bonus in the wake of the fall-out from the suspension of the LF Woodford Equity Income fund.

After previously apologising to investors, the CEO Chris said he will not take his bonus, upwards of £2m a year, until the fund has re-opened.  He said: "Until investors are able to access their money held with Woodford Equity Income, I will not be taking a bonus." The move adds to the pressure placed on Neil Woodford as he continues to charge his investors 0.75% per year, amid calls from the Treasury Select Committee's Nicky Morgan and HL to waive fees. In the wake of the suspension of the Equity Income fund in early June, HL removed the fund from its Wealth 50 and ceased to char...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Industry

Partner insight: Out of the wilderness

Partner insight: Out of the wilderness

Solving the problem of inertia in cash gives opportunities to both advisers and their clients, say Flagstone's Claire Jones and Grovewood Wealth Management's Lynne Gadsden.

Lynne Gadsden @ Flagstone
clock 11 August 2022 • 1 min read
SIF 2022: How to invest in biodiversity

SIF 2022: How to invest in biodiversity

Biodiversity panel

clock 04 August 2022 • 6 min read
Chris Hutchinson of Unicorn Asset Management

The Big Interview: What I learned after being dropped from Hargreaves Lansdown's Wealth Shortlist

'I’ve no interest in falling out with people'

clock 04 August 2022 • 6 min read
Trustpilot