Hargreaves Lansdown CEO to Forgo Bonus for Touting Woodford

Hargreaves Lansdown Plc Chief Executive Officer Chris Hill has volunteered to give up a bonus of as much as 2.1 million pounds ($2.6 million) until fund manager Neil Woodford’s troubles come to a close, the Daily Mail reported, citing people at the company it didn’t identify.

The decision to forgo the bonus was taken because Hargreaves Lansdown’s customers have been affected by the freezing of Woodford’s LF Woodford Equity Income fund, the newspaper said. Hargreaves Lansdown was a major backer of the embattled fund manager until he halted withdrawals from the fund at the end of May. It has since removed Woodford’s Income Focus fund from its Wealth 50 list of “favorite funds” and disposed of its stake in the vehicle.