Home Business News Hargreaves CEO and executives decline bonuses over Woodford saga

Hargreaves CEO and executives decline bonuses over Woodford saga

by LLB Reporter
7th Aug 19 1:23 pm

Hargreaves Lansdown chief executive Chris Hill and his executives have said they will decline their bonuses for 2019 as they supported Woodfords fund.

The suspension of Neil Woodfords flagship fund affected more than 290,000 Hargreaves investors.

Earlier this year Hill waived his £1.7m bonus for last year until the Woodford fund is resolved.

The CIO Lee Guardhouse, research director Mark Dampier and the CFO Philip Johnson are all waiving their bonuses.

A Hargreaves Lansdown source said, “Chris believes this is the right thing to do. He recognises the impact that the gating [of Woodford’s fund] has had on our clients.

“This demonstrates his and Hargreaves Lansdown’s continued focus on putting clients first.”

It is expected the fund will stay closed until December.

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