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Bailed out Lloyds pays £21m to new chief
http://www.dailyfinance.co.uk/2011/0...-to-new-chief/
The new chief of Lloyds looks set to pocket £21m as part of his golden hello – and all this from a bank that was bailed out by the UK taxpayer.
The ex-Santander boss is set to make millions from his signing on package as the new chief executive of Lloyds Banking Group.
His generous pay and benefits package is considerably more than first envisaged when he was poached from Santander back in November 2010.
António Horta-Osório has been promised valuable pension and share awards to compensate him for benefits he sacrificed by defecting from Banco Santander.
Sir Win Bischoff, the Lloyds chairman, had declined in November to quantify these benefits, which are on top of his £9m pay and bonus package - but he said that it was "not a big number".
More details on link
http://www.dailyfinance.co.uk/2011/0...-to-new-chief/
The new chief of Lloyds looks set to pocket £21m as part of his golden hello – and all this from a bank that was bailed out by the UK taxpayer.
The ex-Santander boss is set to make millions from his signing on package as the new chief executive of Lloyds Banking Group.
His generous pay and benefits package is considerably more than first envisaged when he was poached from Santander back in November 2010.
António Horta-Osório has been promised valuable pension and share awards to compensate him for benefits he sacrificed by defecting from Banco Santander.
Sir Win Bischoff, the Lloyds chairman, had declined in November to quantify these benefits, which are on top of his £9m pay and bonus package - but he said that it was "not a big number".
More details on link
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