António Horta Osório

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Reuters May 2019: Horta-Osorio had a 2018 pay package worth £6.3 million. Guardian April 2016: Lloyds Banking Group has handed its chief executive an £8.5m pay deal – despite reporting a 7% fall in profits. Horta-Osório’s £8.5m included an £800,000 bonus in shares, which he will only receive if the government sells off the rest of its stake or the shares remain above the taxpayer break-even price for 126 consecutive days. The Portuguese banker, is also being handed a 6% rise in salary, taking it to £1.12m, while staff are getting 2%. He said the rise – part of which he was taking in shares – should be seen in the context of a 13% rise in salaries since he had taken charge. He was also handed shares worth £3.6m in a long-term incentive plan, which could pay out in three years’ time.

Sources

• Picture: Facebook
• Text: Reuters
• Text: Guardian

Update: 2019-4

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