Hargreaves Lansdown, the FTSE 100 listed broker, has signed a new agreement with its billionaire co-founder and largest shareholder Peter Hargreaves, which will allow him some representation on the board.

The Bristol-headquartered company announced on 20 October that Hargreaves, who established the business in 1981 from a spare bedroom with Stephen Lansdown, will be entitled to nominate one non-independent, non-executive director “to reflect Peter’s continuing interest in the company whilst respecting the strong independent governance principles of the board”.