Author: Patrick Killeen

The billionaire co-founder of Hargreaves Lansdown is stepping back from his role as a board director in the wake of the company’s £5.4 billion private equity takeover.

Peter Hargreaves’ departure comes after a short return to the board – a move he had made earlier this year to “provide continuity” through the transition.

Hargreaves, now 79, will pass his board seat to his son, Robert, who has served as a board observer since the takeover. 

Peter will, however, retain a stake in the Bristol-based FinTech which he has grown into a national giant and has pledged to remain available as a source of counsel. 

The firm says he “will maintain a close relationship” and “has offered to make his insight and experience available if needed.”