This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+301014+small
Categories:Mortgages

Lloyds chief to get £4.6m "golden hello"

  • Print
  • Comments (2)

Lloyds Banking Group has awarded new chief executive Antonio Horta-Osorio £4.6m in shares and cash to buy him out of his contract with Santander.

Horta-Osorio, who joined the state-backed lender at the start of March, will receive the “golden hello” on top of an £8m annual package and £900,000 pension, taking his earnings this year to around £13.5m, according to the Financial Times.

His pay is roughly in-line with that of Royal Bank of Scotland chief executive Stephen Hester.

  • Print
  • Comments (2)

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Readers' comments (2)

  • Its hardly a golden hello if its used to buy him out of his contract now is it. You wouldnt say a footballer had an £85 million golden hello because the club had to buy him out of a contract would you?

    Dont get me wrong, i still think the renumeration package is excessive, but you cant really blame him if he's not going to benefit from it.

    Unsuitable or offensive? Report this comment

  • Snouts in the trough.

    Unsuitable or offensive? Report this comment

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Should Sesame unwind the 'pay to play' deals it set up as part of its restricted advice panel?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments