The Bristol investment platform has appointed Matt Benchener, subject to regulatory approval
Bristol-headquartered Hargreaves Lansdown has named Matt Benchener as its incoming chief(Image: Vanguard)
The UK’s largest investment platform has secured a high-profile appointment, bringing in a top executive from index fund behemoth Vanguard to lead the business.
Bristol-headquartered Hargreaves Lansdown has named Matt Benchener as its incoming chief, with the appointment set to take effect from July 2026, pending regulatory clearance.
Currently heading up Vanguard’s personal investment division in the US which serves millions of clients, Benchener will join the South West firm in March to begin a transition period ahead of assuming the chief executive position.
As a member of Vanguard’s senior leadership team, he spearheaded a major operational overhaul, modernising Personal Investor’s technology infrastructure and digital capabilities whilst accelerating expansion in the group’s advisory services.
Since joining the world’s second-largest asset manager in 2008, Benchener has occupied various senior positions, including personal investor, chief marketing officer, and head of personal investor client service, as reported by City AM.
When Benchener formally assumes the chief executive role in July, current boss Dan Olley will transition to the company’s board as deputy chair, collaborating with the incoming leader and championing the industry’s retail investment initiative.
Benchener said: “Hargreaves Lansdown created the retail investing market as we know it in the UK, with an unrivalled heritage, highly trusted brand and market-leading insight.”
He added: “Its mission and broad reach give it a distinct responsibility in UK society to support the long-term financial wellbeing of millions.
“It is a privilege to lead the company through this exciting stage in its history and to deliver even more for clients and help the UK become a nation of retail investors.”
Peter Hargreaves, founder of Hargreaves Lansdown, also praised Benchener, hailing him as “exactly the right person” to take the firm forward.
Benchener’s appointment also represents Hargreaves Lansdown’s second senior recruitment from Vanguard, with Doug Abbot set to join in March as chief product officer.
Hargreaves made an unexpected return to the board in early 2025, before stepping back in October to “provide continuity” following its sale to CVC partners, Nordic Capital and Abu Dhabi’s Platinum Ivy, in a deal completed in March.
The business, which serves two million retail customers and manages £173bn of savings, was acquired for £11.40 a share, with Hargreaves maintaining approximately a 10 per cent stake after divesting half of his 20 per cent holding in the takeover, netting him over £500m.
The company, which pioneered selling funds directly to individuals rather than through financial advisers and commands a third of the market, has been confronting increasing competition from rivals.
Digital-only platform Robinhood is strengthening its market position, whilst a wave of online-only investment platforms and apps, such as Plum and Trading 212, are progressively drawing in customers.
