Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Bank charges: Co-op bosses see bonuses clawed back

Former executives at the Co-operative Bank could be seeing their bonuses clawed back following its downgrade last week.

Major credit agency Moody's downgraded Co-op to junk status as it claimed that the bank could be at risk of losses from loans.

According to the Telegraph, directors of the company have been looking at ways to take action against the management of its banking division as a result of this.

One of the people that they are planning to take action against is the bank's ex-chief executive Neville Richardson, who stepped down in 2011.

Upon his departure from Co-op bank, Mr Richardson took away £4.6 million, including a £1.4 million payment for losing his office and £1.39 million in compensation for leaving the bank.

When Moody's announced the downgrade, chief executive Barry Tootell also stepped down. This was after the bank's plan to secure more branches from Lloyds Banking Group fell through.

Mr Tootell is due to be replaced by Rod Bulmer.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801584324-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide