Lloyds quashes talk of ousting chief
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Lloyds Banking Group has thrown its weight behind chief executive Eric Daniels amid speculation that he is about to be replaced.
The bank told papers last night that Daniels will stay on in his job for at least another year, despite reports of an an “emergency succession plan” by chairman Sir Win Bischoff. According to a report in the Financial Times, Daniels will take on joint responsibility for succession planning.
City head hunter JCA group was said to have been asked by Bischoff to draw up a list of potential successors for Daniels. Possible names in the frame are said to include HSBC finance director Douglas Flint, former Prudential chief Mark Tucker and ex-JP Morgan Cazenove boss Naguib Kheraj.
Daniels who commands a £1m annual salary waived his 2.3m bonus last month after public pressure.
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