HL execs surrender bonuses over Woodford

Four Hargreaves Lansdown executives, including the chief executive, have said they will surrender their bonuses this year after the company supported Neil Woodford’s flagship fund up until its suspension.

The firm recommended Woodford’s Equity Income Fund up until it was suspended on 3 June, after it had been overwhelmed by a significant increase in investor withdrawals.

More than 290,000 Hargreaves Lansdown investors were impacted by the suspensions – accounting for around a quarter of its total client base.

The company’s chief executive officer Chris Hill, chief financial officer Phil Johnson, head of research Mark Dampier and chief information officer Lee Gardhouse have all declined to accept a bonus this year, with Hill previously stating he would forgo his bonus until the Woodford issue was resolved.

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