He will be responsible for the £8.6bn AUA HLFM fund range.

Before working at Brown Shipley (the UK arm of the Quintet Private Bank Group) as chief investment officer, Mr Vaughan was head of multi strategy solutions at Santander Asset Management, fund manager at LV Asset Management, director of asset allocation at F&C Asset Management and a former winner of Investment Week's Fund of Fund Manager of the year.

He said: “I’ve long been an admirer of HL and am delighted to be joining such a highly experienced team at such an exciting time.” 

He began his role at the start of June with responsibilities including defining the investment strategy for all HL Funds and strategies, setting the investment philosophy and process, governance and risk, and being accountable for performance and the delivery of good client outcomes.

Ruchir Rodrigues, chief client and commercial officer, Hargreaves Lansdown said: “The HL fund management business sits at the very heart of the growth element of our strategy, providing a wide range of investment solutions to help clients at every stage of their investing journey. Toby shares our passion for client service and delivering great outcomes for them and we’re delighted he is joining the team.”

HL has 18 funds with £8.6bn AUA as at 31 March 2023, with other fund launches planned for later this year as announced at the HL Capital Markets Day in February 2022.