Manager SelectionJune 12, 2023

Hargreaves Lansdown Names Toby Vaughan CIO

He was most recently head of investment management at private banking firm Brown Shipley.

Reported by Michael Katz

Toby Vaughan

UK Investment firm Hargreaves Lansdown named Toby Vaughan, former group head of investment management at private banking firm Brown Shipley, as its CIO.

Vaughan, who officially joined the company May 31, is responsible for the firm’s HLFM fund range. While at Brown Shipley, the U.K. arm of the Quintet Private Bank Group, he was responsible for the development of process, decision making and the delivery of investment objectives on more than 20 billion euros ($21.6 billion) of discretionary assets

“Toby has also been responsible for driving the creation of a centralized investment process, led transformation work and been heavily involved in projects to improve scalability,” Ruchir Rodrigues, Hargreaves Lansdown’s chief client and commercial officer, said in a release.

Vaughan replaces Lee Gardhouse, who joined Hargreaves Lansdown in 1995 and had been CIO since 2016; Gardhouse is expected to stay through June “to ensure a smooth handover,” according to a company spokesperson.

Hargreaves Lansdown has 18 funds with a total of £8.6 billion ($10.8 billion) in assets under administration as of the end of March. According to the announcement, it has other fund launches planned for later this year.

“The HL fund management business sits at the very heart of the growth element of our strategy,” Rodrigues said.

Vaughan’s responsibilities include defining the investment strategy for all HL funds and strategies, setting the investment philosophy and process, governance and risk, and being accountable for performance.

Prior to Brown Shipley, Vaughan was at Santander Asset Management, where he was a senior fund manager before being promoted to head of fund management, global multi asset solutions and then again to head of multi strategy solutions. Before Santander, he was a principal fund manager at LV Asset Management.