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PPI Claim News - 31/3/2010

PPI: Bail out bank's boss to keep his job

The chief executive of Lloyds Banking Group (LBG) is to retain his role for the foreseeable future, despite claims that he helped to draw up a contingency plan for a predecessor.

This week the 41 per cent taxpayer-owned bank confirmed that Eric Daniels is to keep his slot at the top of the chain, a decision which its board of members say they wholeheartedly support.

A spokesman for LBG told the Wall Street Journal: "The board fully supports Eric Daniels and values highly the contribution he is making.

"We are not recruiting another chief executive."

This is despite the bank making a financial loss of £6.3 billion in 2009, a revelation that sparked mass public anger when it was revealed that LBG was to administer multimillion pound bonuses regardless of its huge debts.

Mr Daniels is widely blamed for pushing the group's acquisition of the stricken HBOS, which may have been a major factor in the large scale debt accumulated by the institution.

If you would like to get your payment protection insurance back - PPI Claim from LBG then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim advice.

Posted by Samantha Clarke
Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-19699340-ADNFCR

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