Hargreaves Lansdown has hired Brown Shipley’s group head of investment management Toby Vaughan as CIO.
Vaughan, who joined the firm on 31 May, will be responsible for defining the investment strategy for all 18 Hargreaves Lansdown funds with £8.6bn assets under administration.
He will set the investment philosophy, process, governance and risk for the Hargreaves Lansdown funds and will be “accountable for performance and the delivery of good client outcomes”.
Vaughan spent five years at Brown Shipley, where he was responsible for delivering the investment objectives on over €20bn of discretionary assets across the group’s product ranges.
Prior to Brown Shipley, he was head of multi-strategy solutions at Santander Asset Management for five years and also held roles at LV Asset Management and F&C Asset Management.
Ruchir Rodrigues, chief client and commercial officer at Hargreaves Lansdown, said: “Toby has also been responsible for driving the creation of a centralised investment process, led transformation work and been heavily involved in projects to improve scalability.
“The Hargreaves Lansdown fund management business sits at the very heart of the growth element of our strategy, providing a wide range of investment solutions to help clients at every stage of their investing journey.
“Toby shares our passion for client service and delivering great outcomes for them and we are delighted he is joining the team.”
Vaughan added: “I have long been an admirer of Hargreaves Lansdown and am delighted to be joining such a highly experienced team, and the market leader at such an exciting time.”
In January, Hargreaves Lansdown dipped its toe into ETFs with the launch of three managed portfolios across the risk spectrum using ETFs as part of their offering.
Earlier this year, the group scrapped fees across a range of services including for regular savings into ETFs.
