Hargreaves receives CBE in New Year Honours list

Peter Hargreaves, co-founder of broker Hargreaves Lansdown, has received a CBE for services to business innovation, financial services and to the city of Bristol in the New Year Honiurs list for 2014.

Bristol-based stockbroker Hargreaves Lansdown, which Mr Hargreaves co-founded more than 30 years ago in 1981, employs more than 700 people and manages around £35bn on behalf of its clients.

Elsewhere on the list Paul Tucker, former deputy governor of the Bank of England, has received a knighthood for services to central banking.

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Sir Paul, who was widely tipped to replace outgoing governor Lord Mervyn King, lost out to Canadian Mark Carney in November 2012. He stepped down from his role in October 2013, following more than 30 years at the bank.

Katherine Garrett-Cox, Alliance Trust chief executive, received an CBE for services to the asset management industry and charitable service through the Baring Foundation.

Ms Garrett-Cox was promoted to chief executive from chief investment officer in 2008, having joined Alliance Trust in May 2007 from Morley Fund Management where she held the same role.

Jayne Gadhia, chief executive of Virgin Money, also received a CBE for services to banking and voluntary service to the community. She was the only commercial banker in the entire list of 1,195 people.

Last year Hector Sants, former Financial Services Authority chief, was awarded a Knights Bachelor for his services to financial services and regulation.

This was highly criticised by the industry and a financial advisor wrote to the FSA to highlight anger felt across the advisory community over the knighthood, branding the move an “undeserved reward” and a “travesty”.