View more on these topics

Lloyds’ Daniels waives £2.3m bonus

Lloyds Banking Group chief executive Eric Daniels has waived his right to a £2.3m bonus for 2009.

Daniels’ decision comes after Royal Bank of Scotland chief executive Stephen Hester waived his £1.6m bonus yesterday.

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

Lloyds chairman Sir Winfried Bischoff says while Daniels “merits” the full payout under the company’s annual bonus scheme, he will not be taking it for the second consecutive year.

He adds: “Mr Daniels has taken this action 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.  The Board has accepted Mr Daniels’ decision and greatly appreciates the leadership shown by his action.”

Elsewhere across the group, Bischoff says annual bonus awards will be paid, where appropriate, in shares and subject to deferral and clawback.



Auto control for advisers

Auto-enrolment will present a huge opportunity for advisers but round table delegates say how advice will be paid for remains a moot point.

One step beyond

The Mortgage Works looks to tempt future buy-to-let investors by revisiting stepped trackers

Choose life…

Sarah Scott  – Marketing Consultant, Royal London  This month sees the return of Renton, Sickboy, Begbie and Spud in the sequel to the film Trainspotting. Just over 20 years later, we return to see exactly how life treated the characters whose lifestyle was less than ideal back in 1996. Did they choose a job, choose […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm