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LLOY Lloyds Banking Group Plc

51.76
0.09 (0.17%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Lloyds Banking Group Plc LSE:LLOY London Ordinary Share GB0008706128 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.09 0.17% 51.76 51.70 51.72 52.43 51.57 52.23 248,468,301 16:35:16
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Commercial Banks, Nec 23.74B 5.46B 0.0859 6.02 32.87B

Government Body Backs Horta-Osorio's Return As Lloyds Boss- Report

11/12/2011 12:56pm

Dow Jones News


Lloyds Banking (LSE:LLOY)
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U.K. Financial Investments, the body that manages the government's stakes in British financial institutions, is backing the return of Antonio Horta-Osorio as Chief Executive at Lloyds Banking Group PLC (LLOY.LN), The Sunday Telegraph reports without citing sources.

Horta-Osorio has been signed off by doctors for "extreme fatigue" and has been absent since the end of October.

The paper said the government-funded body, which manages the Treasury's 41% stake in Lloyds, has indicated to the bank's board that it is happy for Horta-Osorio to return to his post but wants changes, including sharing more of Chief Executive's responsibilities across members of the executive team.

The Lloyds board will meet Thursday to make a decision about Horta-Osorio's future and is also expected to make a decision who it will sell 632 of its branches to.

The Sunday Telegraph said that final bids from two rivals are expected to be handed in Monday and both are likely to be in the region of GBP1.5 billion. Bids are expected from NBNK Investments plc, a bank buyout vehicle, and Co-Operative Financial Service. A stock market floatation also remains an option.

No one at Lloyds could immediately be reached for comment.

Newspaper Web site: http://www.telegraph.co.uk

-London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320

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