View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
February 23, 2010

Guard: Lloyds CEO waives bonus

By Spear's

Eric Daniels, chief executive of Lloyds Banking Group, has bowed to public pressure and waived a £2.3m bonus that the loss-making bank awarded him, becoming the fourth bank boss in a week to refuse a payout.

Eric Daniels, chief executive of Lloyds Banking Group, has bowed to public pressure and waived a £2.3m bonus that the loss-making bank awarded him, becoming the fourth bank boss in a week to refuse a payout.

In an unusual development, the Lloyds chairman Sir Win Bischoff issued a statement to explain that the bank’s remuneration committee had wanted to award him a full bonus even as the bank prepares to report a loss of at least £3bn on Friday.

Bischoff said Daniels had decided not to take the bonus because “he believes that the excellent progress the group is making, based on the considerable contribution of many colleagues across the company, is in danger of being obscured by the current debate on executive bonus awards in the banking sector.

To read the full story, visit guardian.co.uk

Content from our partners
Meet the females leading in the FTSE
A cut above: Charles Sanford on why HNW clients choose LGT Wealth Management
How the Thuso Group’s invaluable experience and expertise shaped the Spear’s Schools Index 2024

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network