Feb 4 Lloyds Banking Group's Chief
Executive Officer Antonio Horta-Osorio could be awarded and
would accept a bonus of up to 2 million pounds ($3.26 million)
in coming weeks, Sky News reported on Tuesday, citing Whitehall
Sky said the state-backed British lender and its biggest
investor, UK Financial Investments (UKFI), were discussing the
terms of the CEO's 2013 bonus, which would be linked to a
long-awaited resumption of dividend payments or a further sale
of taxpayer-owned shares. ()
Lloyds, which last paid a dividend in 2008 before it was
rescued during the financial crisis, is 33 percent owned by the
The bank said this week that it expected to apply to the
regulator in the second half of the year to restart dividend
Sources said the bonus - likely to be worth between 1.5
million pounds and 2 million pounds - would be awarded in shares
and deferred for at least five years, the broadcaster reported
on its website.
Lloyds declined to comment, while UKFI could not be reached
outside of business hours.
Earlier on Tuesday, Martin Wheatley, CEO of the Financial
Conduct Authority, told lawmakers that tougher guidelines on
financial sector pay were under consideration.
When asked if senior managers at Lloyds would have their
bonuses clipped following the bank's record 28 million pound
fine in December, Wheatley said the "whole concept of clawback"
was that people involved in bad decisions should suffer the
consequences of their actions.
The news comes a day after Barclays PLC CEO Antony
Jenkins waived his 2013 bonus, which could have been up to 2.7