Lloyds Banking Group has defended the 6.3 million pound ($8.06 million) pay pack...
LONDON - Lloyds Banking Group has defended the 6.3 million pound pay package awarded to chief executive Antonio Horta-Osorio, after criticism from politicians and investor trade bodies.
“Let me be clear - our view is we should and need to pay for performance,” Blackwell said, adding of the bank’s senior leadership team that “not many people would do the arduous hours and arduous tasks they do for free”. In a repeat from last year’s event, British television personality Noel Edmonds posed a barrage of questions about the fraud in a heated, 10-minute exchange with the Lloyds chairman.
Blackwell said various inquiries into what went wrong were still ongoing and the bank would co-operate with any police investigation.
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