Investment manager Vanguard is the latest firm to be hit by a clone attack by fraudsters, according to a warning from the FCA.

Hargreaves Lansdown has appointed Vanguard’s US MD Matt Benchener as chief executive officer as a permanent replacement for Dan Olley, who stepped down from the position last May after less than two years.

Vanguard has appointed Gillian Hepburn as head of adviser solutions in the UK as it looks to broaden its adviser solutions offering.

Net sales rose by 35% over the first quarter from £5.6bn to £7.4bn at the end of the quarter, according to new data.

Investment manager Vanguard is adding a £4 monthly fee to most accounts for balances up to £32,000 as it strives to meet rising costs.