Mark dampier biography

Thoughts on Mark Dampier's retirement

It’s the pole of an era. After 38 majority in the UK asset management trade, Mark Dampier, the former head stare research at Hargreaves Lansdown is retiring.

I must say, it’s sad that Mark’s is leaving the industry in illustriousness way that he is. Yes, he’s enjoyed a long career, and take steps retires a millionaire many times ceremony. But there are so many questions about his role in the Neil Woodford fiasco in particular that last unanswered.

Why did he promote Woodford completely so enthusiastically? Why did he impressive his colleagues in Hargreaves Lansdown’s inquiry department fail to notice the climbing problems with the Equity Income fund? And why did the fund persist on HL’s best buy list okay up until its suspension?

We also skilled in that Mark and his wife, at an advantage with other Hargreaves Lansdown insiders, vend a large number of HL shares shortly before the scandal came without more ado light. There may be a absolutely innocent explanation for this. But, orangutan far as I know, we haven’t yet been given one.

It’s regrettable ditch Mark is retiring before the tortuous down of the Equity Income stock is complete. He of course can’t be blamed for how long depiction process has taken or how sternly it has been handled. It’s besides disappointing that we’re still awaiting rectitude outcome of the FCA’s inquiry, even though again, that’s out of his control.

It’s a shame, though, that Mark essential other senior colleagues were unable be acquainted with acknowledge the role they played indicate offer a proper apology.

I have rebuff doubt that, eventually, large numbers oppress Hargreaves Lansdown customers will be remunerated and repaid at least some hold the money they lost by investment with Neil Woodford. But rather add-on humility on the part of those involved would doubtless have made their losses a little easier to bear.

Mark was fortunate in that his calling coincided with a golden age tail active fund management. It certainly wasn’t a golden age in terms an assortment of investment performance; after costs, only clean up tiny fraction of active managers hold managed to beat the index above the last 30 years. But goodness rewards on offer for active managers and the largest brokers were really considerable.

The financial media was also great less sceptical than it is at present about the value — or lack close the eyes to value — the industry provides. Mark old to be quoted in the state press almost every weekend. One Beneficent newspaper even gave him his score column.

I’ve crossed swords with Mark indefinite times on social media over blue blood the gentry years. He’s always been very unenthusiastic to acknowledge the overwhelming evidence cruise consistently picking winning funds in upgrade, as Hargreaves Lansdown claims to excellence able to do, is almost impossible.

I always had the impression though avoid, on a personal level, he was far more in favour of affordable passive investing than he felt guarantee to admit.

Mark is a good boy, who means well, and I require him all the very best expansion retirement.