In a major leadership shake-up, Hargreaves Lansdown has successfully headhunted a senior executive from investment giant Vanguard to steer the company forward. The UK's dominant investment platform confirmed the appointment of Matt Benchener as its new Chief Executive Officer, with his tenure set to begin in July 2026 pending regulatory approval.
Strategic Hire from a Rival Giant
Matt Benchener will join the Bristol-based firm in March 2026 for a handover period before fully assuming the CEO role in July. He departs Vanguard, the world's second-largest investment group, where he has worked since 2008. In his most recent position, Benchener was at the helm of Vanguard's personal investment business in the United States, overseeing several million clients.
During his long tenure at Vanguard, Benchener held several pivotal roles, including Chief Marketing Officer and Head of Personal Investor Client Service. He is credited with leading a significant operational turnaround, revitalising the technology and digital platforms for Vanguard's Personal Investor division and fuelling growth in its advisory services.
Leadership Transition and Board Reshuffle
Upon Benchener officially taking the reins in July, the current leader, Chris Hill, will transition to the role of Deputy Chair on the company's board. In this capacity, he will collaborate with the new CEO and focus on the broader industry campaign to promote retail investing.
Benchener expressed his honour at leading Hargreaves Lansdown, stating the firm "created the retail investing market as we know it in the UK." He emphasised the company's "distinct responsibility" to bolster the long-term financial wellbeing of its millions of clients and its role in helping the UK become a nation of investors.
The move marks the second high-profile recruitment from Vanguard, with Doug Abbot also scheduled to join Hargreaves Lansdown in March as Chief Product Officer.
Navigating a New Era of Ownership and Competition
This leadership change occurs during a transformative period for Hargreaves Lansdown. The company, which serves two million retail customers and manages £173 billion in assets, was taken private in a deal completed in March 2025. A consortium comprising CVC Partners, Nordic Capital, and Abu Dhabi's Platinum Ivy acquired the firm for £11.40 per share.
Founder Peter Hargreaves, who made a brief return to the board in early 2025, sold half of his 20 per cent stake in the takeover, netting over £500 million while retaining roughly a 10 per cent shareholding. He endorsed Benchener's appointment, calling him "exactly the right person" for the job.
The platform, which pioneered selling funds directly to the public and commands about a third of the market, faces intensifying rivalry. Digital challengers like Robinhood are gaining traction, while a surge of online-only platforms and apps such as Plum and Trading 212 are increasingly capturing customer attention.
