British financial services firm Hargreaves Lansdown (HL) has named Dan Olley as its new CEO, who will replace Chris Hill.

Being at the helm for six years, Hill unveiled plans to retire in October this year. He will remain in the role until November 2023 to support a smooth transfer of power.

Olley will take charge as the CEO and executive director next year. The appointment awaits regulatory clearance.

Commenting on his new role, Olley said: “I am tremendously excited at the opportunity to lead the business through its digital transformation and into its next stage of growth.

“Having joined the Board in 2019, I have a deep understanding and passion for the business.”

Olley will take on the new position after stepping down as the CEO of customer data science firm Dunnhumby, a role he has been holding since January 2022.

He headed a digital-first and data-driven transformation at the firm.

Before that, he held various senior positions during his 17-year stint at information analytics firm RELX, where he supported its digital transformation.

Since June 2019, he has been serving as a non-executive director on the HL board. 

HL chair Deanna Oppenheimer stated: “Having worked with Dan in a non-executive capacity over the last three years, I have been highly impressed by both his strategic insight and his depth of experience in digital transformation and, as such, I am delighted that he will be the next CEO of HL.

“His strong transformation leadership across complex scale businesses and experience of driving growth and client engagement through digital change is a great match for HL as we continue to deliver on our strategy.”

Last year, HL co-founder Peter Hargreaves offloaded £300m of his shares in the business through a placing with institutional investors.