Lloyds boss called before MPs over his pension payments

António Horta-Osório pocketed an extra £400,000 a year on top of his basic £1.3m salaryLloyds chief executive António Horta-Osório has been summoned in front of MPs over executive pension payments that have allowed him to pocket an extra £419,000 a yea…

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Investor anger rises over pension pay and bonus bumps at Lloyds and Centrica

Two well-remunerated FTSE 100 bosses will be in the spotlight this week as a mood of rebellion grows among shareholdersIt is bad enough being responsible for slumping customer numbers and rising bills at British Gas, but Centrica’s boss, Iain Conn, now…

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MPs demand Lloyds justifies ‘cash paid to CEO in lieu of pension’

Bank told payments to António Horta-Osório contravene trade body guidelines and City codeMPs have stepped up the pressure on Lloyds Banking Group over excessive pensions for senior staff, demanding the lender justify hefty payments to its chief executi…

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Hedge fund of investor who inspired The Big Short takes position on Barclays

Neuberger Berman bet worth £348,000 adds to positions against Lloyds and RBSThe American hedge fund of the investor immortalised in the Oscar-winning Hollywood film The Big Short has made a bet that the share price of the British bank Barclays will fal…

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The welcome sight of banks rowing back on executive pensions | Nils Pratley

HSBC and Lloyds are showing the way, but it’s still one rule for bosses and another for staffAt HSBC and Lloyds in the past week, we’ve been treated to a rare sight: boards deciding not to defend the indefensible on executive pay. The issue has been ex…

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Sainsbury’s £1bn reveal is unlikely to move the competition authority | Nils Pratley

The supermarket’s merger with Asda would permanently reshape the UK grocery marketSainsbury’s pitch to the Competition and Markets Authority didn’t work the first time, so here comes chief executive Mike Coupe with another plea. His big reveal was a fi…

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UK bankers on standby as City readies no-deal contingency plans

JP Morgan and Goldman Sachs poised to move staff to EU offices by 29 MarchHundreds of UK bankers at JP Morgan and dozens from Goldman Sachs are on standby for relocation to EU offices by 29 March, regardless of Parliament’s vote to delay Brexit.The exo…

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