Hargreaves Lansdown Looks for New CEO as Chris Hill Decides to Retire – Finance Magnates

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Hargreaves Lansdown (LON: HL) announced on Monday the decision of its CEO and Executive Director, Chris Hill to retire. The company is now actively looking for a successor as the handover period has been set for November 2023.
Hill is leaving a significant mark on the British financial service company as he has led the company through the pandemic-induced crisis and implemented new strategies. In addition, the official announcement highlighted “significant growth in assets under administration and client numbers” under his leadership.
However, the revenue of the company in the first four months of 2022 dropped from £233.2 million to £196.5 million. The year-to-date client growth of 90,000 came in line with pre-covid levels, while the client retention rate reached 92.4 percent.
“Chris has successfully led the company through a period of significant change,” said Deanna Oppenheimer, Hargreaves Lansdown’s Chair. “He is leaving HL as a stronger company, with a clearly defined strategy that the Board fully supports.”
“Having started the implementation of the next phase of the company’s growth, Chris has decided it is time to pass the reins to a new CEO to continue to execute on this strategy and build on our market-leading proposition.”
Hill joined Bristol-headquartered Hargreaves Lansdown in February 2016 as the Chief Financial Officer. He was promoted to Deputy CEO a year later and then became the CEO, now holding that apex role for almost six years.
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Moreover, he is a financial industry veteran, having spent three decades in total with various companies in executive roles.
Before Hargreaves Lansdown, Hill was the CFO at IG Group, London’s largest CFDs trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term, between April 2011 and October 2015. Furthermore, he spent more than four years at Travelex, first as the Group Financial Controller and then as the CFO.
“I have been privileged to lead the Company over the last six years through a period of growth and also an unprecedented time of change,” Hill said referring to his tenure as CEO at Hargreaves Lansdown.
“I set in train a comprehensive strategy to ensure the company remains at the forefront of wealth management, including providing clients with the best digital tools. Having put in place strong foundations that are already delivering results, including an exceptional leadership team, it will be time after a thoughtful transition to hand over to my successor to take the company through the next phase of embedding this strategy.”
Hargreaves Lansdown (LON: HL) announced on Monday the decision of its CEO and Executive Director, Chris Hill to retire. The company is now actively looking for a successor as the handover period has been set for November 2023.
Hill is leaving a significant mark on the British financial service company as he has led the company through the pandemic-induced crisis and implemented new strategies. In addition, the official announcement highlighted “significant growth in assets under administration and client numbers” under his leadership.
However, the revenue of the company in the first four months of 2022 dropped from £233.2 million to £196.5 million. The year-to-date client growth of 90,000 came in line with pre-covid levels, while the client retention rate reached 92.4 percent.
“Chris has successfully led the company through a period of significant change,” said Deanna Oppenheimer, Hargreaves Lansdown’s Chair. “He is leaving HL as a stronger company, with a clearly defined strategy that the Board fully supports.”
“Having started the implementation of the next phase of the company’s growth, Chris has decided it is time to pass the reins to a new CEO to continue to execute on this strategy and build on our market-leading proposition.”
Hill joined Bristol-headquartered Hargreaves Lansdown in February 2016 as the Chief Financial Officer. He was promoted to Deputy CEO a year later and then became the CEO, now holding that apex role for almost six years.
Want to see who are the industry executives?
Moreover, he is a financial industry veteran, having spent three decades in total with various companies in executive roles.
Before Hargreaves Lansdown, Hill was the CFO at IG Group, London’s largest CFDs trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools. Read this Term, between April 2011 and October 2015. Furthermore, he spent more than four years at Travelex, first as the Group Financial Controller and then as the CFO.
“I have been privileged to lead the Company over the last six years through a period of growth and also an unprecedented time of change,” Hill said referring to his tenure as CEO at Hargreaves Lansdown.
“I set in train a comprehensive strategy to ensure the company remains at the forefront of wealth management, including providing clients with the best digital tools. Having put in place strong foundations that are already delivering results, including an exceptional leadership team, it will be time after a thoughtful transition to hand over to my successor to take the company through the next phase of embedding this strategy.”
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