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Lloyds’ Daniels under pressure as RBS’ Hester waives bonus

Lloyds Banking Group chief executive Eric Daniels is under mounting pressure to make concessions on his bonus after Royal Bank of Scotland chief executive Stephen Hester waived his £1.6m bonus.

Daniels is expected to be in line for a maximum bonus of £2.25m for 2009.

Last week Barclays chief executive John Varley and president Bob Diamond waived their bonuses.



Advisers who restrict cover face losing independent status

Advisers who fail to offer life insurance, income protection and critical-illness cover could lose their independent status. In December’s retail distribution review consultation paper, the FSA says only 40 per cent of investment advisers currently sell all three protection products but warns that the 60 per cent of investment advisers who limit their advice to […]


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