A hard bias (HB) structure for producing longitudinal bias to stabilize a free layer in an adjacent spin valve is disclosed and includes a composite seed layer made of at least Ta and a metal layer having a fcc(111) or hcp(001) texture to enhance perpendicular magnetic anisotropy (PMA) in an overlying (Co/Ni)X laminated layer. The (Co/Ni)X HB layer deposition involves low power and high Ar pressure to avoid damaging Co/Ni interfaces and thereby preserves PMA. A capping layer is formed on the HB layer to protect against etchants in subsequent process steps. After initialization, magnetization direction in the HB layer is perpendicular to the sidewalls of the spin valve and generates an Mrt value that is greater than from an equivalent thickness of CoPt. A non-magnetic metal separation layer may be formed on the capping layer and spin valve to provide an electrical connection between top and bottom shields.