Hargreaves Lansdown chief Dan Olley to leave after 2-year stint

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Hargrives Lancedown’s chief executive of £ 5.4 billion private equity techover, leaving the UK’s largest investment site after less than two years in Helme.

Dan Oli, who took a leading job in August 2021, will hand over the underworld to Sky Bet and former Gaming CEO Richard Flint, subject to regulatory approval, the company said.

Flint was employed as an independent non-non-non-director this year Hargrives Lancedown And the Chairman of the Transformation Committee – a consulting company to oversee the development of the business, including digital services.

Hargrieves Lancedown said that Oli would be on the post for three months of transfer and then would be available for two more months, “to ensure a smooth transition”.

A person close to the situation said that Oli told colleagues in a memo that he could not commit five or more years for personal reasons.

This step came just two months after a consortium of private equity firms, including CVC Capital Partners, Nordic Capital and Abu Dhabi Investment Authority Its acquisition is done Hargrives for $ 11.40 for Lancedown’s cash shares.

In 9, Stephen Lansdown, along with his extra bedroom, co-founded Peter Hargrieves sold about ten percent of the holding to hold about ten percent of the holding.

In the 2007, the floating company increased rapidly by providing stock and shares as well as the low expensive access to individual funds. However, it has faced rigorous competition in recent years from rivals, including AJ Bell and Interactive investors, and after the expensive technical overholes under previous management, less than $ 10 from the top of $ 24 in 2019.

Hargrives rejected his efforts to improve his technology under Lancedown Oli, who said that “he focuses on the supply of advanced digital experience” is “incredibly proud” about the progress made by the company.

A person familiar with the situation said that Flint’s experience in the gambling sector gave him an idea of ​​working with weak customers and transforming a business in digitally. He is also the chairman of the Digital Subscription Dog Food Agency Buttonot Box.

Chair Bruce Hemfil said that “Flint” has depth of the leadership of the operating business in the high -controlled market as well as in the high -controlled market.

Nordic Capital, a member of the Private Equity Consortium, had earlier invested in Nordnette, a similar digital investment site that overhell a technology. Nordic Capital took the business in 20 2016 and rebuilt it in 2021.

The Hargrieves Lancedown Acquisition, which ended in March, supervised the board of investment agencies. The chair of the Financial Services Group Old Mutual, Hemfil, was named chair to finish the deal.

The Financial Times was published in April that Peter Hargrives Nominated himself as non-unmarried And put his son Robert ahead to be a board observer. As a result of the rest of the business of Hargrieves, a board has the right to nominate a director and an observer.