The consortium which is within the course of of shopping for Hargreaves Lansdown, the funds grocery store, for greater than £5bn is lining up a outstanding former playing govt as its new chairman.
Sky Information has learnt that Richard Flint, a former boss of Sky Betting & Gaming, has been recognized as the popular candidate to exchange Alison Platt, who steered Hargreaves Lansdown by way of its closing 12 months as a London-listed firm.
Sources near the method mentioned that Mr Flint’s appointment can be topic to approval from the Monetary Conduct Authority (FCA).
Mr Flint has had a long-standing connection to CVC Capital Companions, the personal fairness agency spearheading the bidding syndicate.
One insider mentioned his expertise working with companies working in extremely regulated markets would serve Hargreaves Lansdown and its new shareholders nicely.
Along with SkyBet, Mr Flint has been a non-executive director of Flutter Leisure, the proprietor of Paddy Energy and Betfair.
His present board roles embody the chairmanship of pet food subscription service Butternut Field and Seat Distinctive, the ticketing platform.
The takeover of Hargreaves Lansdown, one in every of Britain’s most outstanding consumer-facing monetary providers companies, is predicted to be accomplished within the first quarter of 2025.
Alongside CVC, the opposite buyers are the Abu Dhabi Funding Authority and Nordic Capital.
Peter Hargreaves, one of many co-founders of Hargreaves Lansdown, has rolled a part of his stake into the brand new possession construction.
A spokesman for the consortium declined to remark.
