Eric Daniels, chief executive of Lloyds Banking Group, on Wednesday agreed to waive his £2.3m bonus as he testified to MPs alongside other bank chiefs. Daniels is paid a basic salary of £960,000. The decision to forgo his 2008 bonus comes despite Lloyds report of a profit in 2008 excluding losses incurred from its recent takeover of HBOS. The Lloyds chief told the Treasury select committee he had originally believed the takeover of HBOS was the best use of its money, and this was still the case.

This entry was posted by Gwen Robinson on Thursday, February 12th, 2009 at 4:49 and is filed under Capital markets, People. Tagged with Eric Daniels, Lloyds Banking Group. Edit this entry.