• Royal Bank of Scotland chief executive Ross McEwan
    Permalink Gallery

    RBS CEO Ross McEwan – Deception is Common Industry Practice

RBS CEO Ross McEwan – Deception is Common Industry Practice

Britain’s biggest banks have admitted sending thousands of letters from fake debt collection agencies in a deliberate attempt to intimidate customers into paying up.
In a series of letters to the Commons Treasury committee, several of the biggest names in banking admit they have sent misleading letters to tens of thousands of customers who are struggling to repay their debts.  They now face the prospect of a full-scale inquiry by MPs, who have condemned the ‘menacing’ practice.  Andrew Tyrie, Tory […]

Lloyds comeback kid Antonio Horta-Osorio halts rot

WHEN he steps on to the platform to face shareholders at the Edinburgh International Conference Centre this week, Antonio Horta-Osorio may be excused a wry smile.
Just over two years ago, and just eight months into the job, the chief executive of Lloyds Banking Group was forced to take leave of absence, suffering from stress and exhaustion.
Analysts and investors alike believed it was impossible for the suave Portuguese to return to the job of tackling one of the biggest turnaround […]

  • lloyds
    Permalink Gallery

    Lloyds Top Management Bonuses potentially worth more than £27m

Lloyds Top Management Bonuses potentially worth more than £27m

Lloyds chief executive António Horta-Osório: the bank has handed its top management team bonuses potentially worth more than £27m. Photograph: Afp/AFP/Getty Images

Bailed-out Lloyds Banking Group has handed its top management team – including chief executive António Horta-Osório – bonuses potentially worth more than £27m.

The announcement by the 33% taxpayer-owned bank covers awards of bonuses for 2013 and 2014 – some of which do not pay out for three years – and follows its disclosures this month that its senior executives shared £12m of bonuses that had […]

  • lloyds2
  • Lloyds CEO Antonio Horta-Osorio
    Permalink Gallery

    Are Banks ready to earn customers trust instead of bleeding us dry?

Are Banks ready to earn customers trust instead of bleeding us dry?

This week Lloyds Banking Group’s boss, António Horta-Osório, set out his plans for the future of the troubled company.
Pleasingly, the words “profit” and “shareholder return” weren’t at the forefront of his message. Instead, the former Santander chief talked about helping people. He promised to help “more customers get on the housing ladder” and to “help our customers plan and save for later life”.
He said: “We’ll take a lead in financial inclusion to enable all individuals to access, and benefit […]

  • Bank bonuses
    Permalink Gallery

    Bankers’ bonus cap architect says EU must sue UK government

Bankers’ bonus cap architect says EU must sue UK government

MEP calls on European commission to take UK to court for allowing banks to ‘blatantly’ sidestep EU rules limiting bonuses
One of the architects of the EU’s cap on bankers’ bonuses has called for the UK government to be sued for allowing banks to sidestep the new rules as two more high street banks were preparing to hand their bosses up to £1m in extra pay to avoid the clampdown.
Philippe Lamberts, the Belgian Green MEP who helped devise the restrictions, […]

  • Bank bonuses
  • Lloyds CEO Antonio Horta-Osorio
    Permalink Gallery

    Lloyds Banking Group chief António Horta-Osório gets £1.7m bonus

Lloyds Banking Group chief António Horta-Osório gets £1.7m bonus

Lloyds CEO António Horta-Osório is taking a £1.7m bonus for 2013 – his counterparts at RBS and Barclays have waived theirs. 

Lloyds Banking Group has awarded its boss António Horta-Osório a £1.7m bonus after declaring itself “a normal bank” five years after its taxpayer bailout.

With preparations under way for a sell-off of part of the 33% remaining taxpayer stake, Horta-Osório played down the impact of Scottish independence on the bailed out bank which owns Bank of Scotland.

The Portuguese banker – who took the […]

  • Lloyds CEO Antonio Horta-Osorio