Lloyds boss may get shares worth £7m under new deal

Antonio Horta-Osorio, the boss of Lloyds Banking Group, may be entitled to £7million in performance related share bonuses, while the top seven members of the management team could also be given shares worth £20million, under a new three year deal.

These shares have risen in value from 34.7p to 75p, and top staff are set to receive these payments based on a long-term incentive plan, rated on the bank’s stock market performance and customer satisfaction.

Horta-Osorio is starting his second three year plan at the bank which will include cutting 9,000 jobs and the closure of 200 branches.