New CFO and CEO for Hargreaves Lansdown

Hargreaves Lansdown has appointed Philip Johnson as chief financial officer, joining the company on 20 February.

Johnson was CFO of Jupiter Fund Management for seven years and prior to that, group finance director of M&G Limited for over five years.

Hargreaves also confirmed the appointment of deputy chief executive and CFO Chris Hill as chief executive officer.

Current CEO Ian Gorham will step down from the board following the interim results to ensure an orderly handover, and will remain an employee until 30 September 2017.

Chairman Mike Evans said: "After a thorough search and assessment process we are delighted to welcome Philip as the group's CFO. He has a highly relevant financial services background and will bring new skills and expertise to the board and leadership team.

“Ian has done a fantastic job in leading Hargreaves Lansdown to its current position and we are delighted to confirm the appointment of Chris as CEO to lead the company as we execute the next phase of our growth strategy.”

At 1416 GMT, the shares were up 1.1% to 1,336p.