Hargreaves Lansdown founder Peter Hargreaves rejoins board after more than a decade

Billionaire co-founder of Hargreaves Lansdown, Peter Hargreaves, is set to rejoin the company’s board in a non-executive director role after a decade-long absence. This move comes after the recent £5.4 billion sale of the investment platform to private equity firms.

Hargreaves Set to Return to Hargreaves Lansdown Board

Peter Hargreaves, who established the investment platform in 1981 with Stephen Lansdown, has nominated himself for a position as a non-executive director.

His son, Robert Hargreaves, has been put forward for an observer role, which will not include voting rights. Mr. Hargreaves, aged 78, is anticipated to take up his position within the coming weeks, according to reports from the Financial Times.

This return follows the agreed £5.4 billion acquisition of the company by a consortium of private equity firms last year.

Previously, Hargreaves had voiced strong criticism of the management team, describing their leadership as a ‘shambles’ amid a significant drop in the share price.

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The subsequent takeover led to the resignation of the existing board, paving the way for the finance tycoon’s comeback.