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Bank claims: Lloyds gives new boss £13m pay packet

People may be more inclined to make bank claims after hearing that Lloyds Banking Group has given its new boss a pay package amounting to more than £13 million.

Antonio Horta-Osorio has been given a "golden hello" of as much as £8.6 million after being headhunted from rival bank Santander, reports thisismoney.co.uk.

On top of this, Mr Horta-Osorio will receive up to £5 million in pay and bonuses.

Brendan Barber, general secretary of the TUC, said: "Allowing multi-million pound golden hellos to taxpayer funded bank owners while public services are cut across the country says everything about the Government's austerity Britain.

"Ministers need to start standing up for ordinary consumers and businesses by forcing through reform in taxpayer funded banks."

This news is likely to upset a number of taxpayers across the UK, as 41 per cent of Lloyds is owned by them after it had to be bailed out during the financial crisis.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.
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