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Monday, 20 February 2012
Lloyds to Clawback
Lloyds Banking Group is set to become the first bank to clawback bonuses and to implement new FSA rules.
The bank is looking to recover up to £ 1 million in relation to bonuses paid in 2010 following the creation of a £ 3.2 billion charge for the misspelling of payments protection insurance.
Individuals who stand to pay bonuses back include:-
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Eric Daniels – former CEO;
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Tim Tookey – finance director who is due to leave the bank at the end of the month;
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Truett Tate – head of the wholesale bank;
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Helen Weir – former head of the retail bank;
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Carol Sargeant – former Head of Risk.
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