Citywire for Financial Professionals
Stay connected:

View the article online at

Hargreaves Lansdown float would churn out the millionaires

The proposed £600 million Hargreaves Lansdown (HL) flotation is likely to make around 15 employees millionaires, including head of research Mark Dampier.


The proposed £600 million Hargreaves Lansdown (HL) flotation is likely to make around 15 employees millionaires, including head of research Mark Dampier.

Citywire sources have suggested that when favourable ‘save as you earn’ schemes are taken into account the intermediary firm could create as many millionaires as New Star Asset Management, (NSAM) famed for bringing wealth even to chairman John Duffield’s secretary.

After founders Peter Hargreaves and Stephen Lansdown, who stand to make close to £250 million each, the individual poised to make the most is thought to be group marketing director Mary Theresa Barry.

Citywire understands that Barry, who was the firm’s first full-time employee in 1982, will make £22.2 million if the firm floats at the predicted £600 million.
Next in the pecking order is Adam Norris, managing director of HL’s advisory business. He stands to make £19.2 million.

Mark Dampier, the group’s head of research, stands to make around £1.4 million. The firm has £7.5 billion under administration.

The figures do not take into account ‘save to earn schemes’ which were offered at what are believed to be very favourable rates. The scheme is thought to contain more paper millionaires as the employee benefit trust would hold around £48 million of shares at flotation, based on the shareholdings of employees at the end of November 2006. In total the firm has 600 employees.

Although the flotation has been widely trailed in the press, the firm has stopped short of confirming it will definitely go ahead, despite appointing Lexicon Partners as corporate advisers.

Lansdown said: ‘This is one of the options we are looking at. Hargreaves Lansdown is now 25 years old and is still rapidly growing so we are looking at this as a way of improving our efficiencies and profile.’

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: The sterling slump: what’s next?

After Boris announced he was backing Brexit, sterling suffered its biggest slump in six years. Our Market Mavens discuss. Follow the Market Mavens LinkedIn page for weekly videos, in which our panel of industry experts share their views on financial news

The Citywire guide to investment trusts

In association with Aberdeen Asset Management

More about this:

Look up the shares

  • New Star Asset Management PLC (NSAM)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them


Today's articles

Tools from Citywire Money

From the Forums

+ Start a new discussion

Weekly email from The Lolly

Get simple, easy ways to make more from your money. Just enter your email address below

An error occured while subscribing your email. Please try again later.

Thank you for registering for your weekly newsletter from The Lolly.

Keep an eye out for us in your inbox, and please add to your safe senders list so we don't get junked.


Investment Trust Insider: issue 29 out now!

by Gavin Lumsden on Jun 01, 2016 at 00:01

Sorry, this link is not
quite ready yet