Break the silence; Lloyds boss gets £11m

[steveo]

Lloyds chief executive, Antonio Horta-Osorio, is set to receive a total remuneration package of £11m, consisting of basic pay of £1m, an £800,000 bonus and the payout of a three-year long-term incentive plan, which gives him 535,083 shares

Not heard much whining about this yet? Anyone got a problem with it?

Not me. When he took the job the share price was 26p. Now 79 ish. Profits last year £415m, this year £1.8B.

Worth every penny.

 

[MK Shrimper]

As long as he pays his full tax obligations.....

 

[Mad Cyril]

As long as he pays his full tax obligations.....

I am sure he will. My (smaller) bonuses were subject to PAYE so there was no way out.

 

[Massimo Giovanni]

The performance figures for the bank are powerful argument to support the payout.
However I find it extremely hard to reconcile the morality of the sums of money paid to one individual, the bank CEO, Bill Gates, or Wayne Rooney while too many shed sweat and tears, sometimes blood, to earn but a fraction of that.
That is the morality question of the West isn't it?





#noguardianlink & #socialistview

 

[markw]

The performance figures for the bank are powerful argument to support the payout.
However I find it extremely hard to reconcile the morality of the sums of money paid to one individual, the bank CEO, Bill Gates, or Wayne Rooney while too many shed sweat and tears, sometimes blood, to earn but a fraction of that.
That is the morality question of the West isn't it?





#noguardianlink & #socialistview

He also gives quite a large portion of his away...

 

[OldBlueLady]

Sorry, I think that's an obscene amount of money.

 

[steveo]

Sorry, I think that's an obscene amount of money.

So would you recommend they employ someone on 200 grand a week and be happy when he only increases profits by 5%?

 

[OldBlueLady]

So would you recommend they employ someone on 200 grand a week and be happy when he only increases profits by 5%?

I think all the amounts of money paid to bankers at the top is obscene, £200k a week would also be totally obscene. Why and how has the amount people are paid at the top spiralled so far? Don't remember anything like the disparity between the workers and the CEOs or whatever their title was when I was in the banking industry.

 

[MK Shrimper]

I am sure he will. My (smaller) bonuses were subject to PAYE so there was no way out.

I'm sure you're right...I mean he wouldn't be interested in the kind of avoidance schemes like Ant & Dec/Jimmy Carr/Take That are a part of would he. After all, we're all in this together. :whistling:

 

[steveo]

I think all the amounts of money paid to bankers at the top is obscene, £200k a week would also be totally obscene. Why and how has the amount people are paid at the top spiralled so far? Don't remember anything like the disparity between the workers and the CEOs or whatever their title was when I was in the banking industry.

Presumably they get more money because they produce better results. If they were not delivering good results they would be out the door. People are usually paid what they are worth in business. This bloke is obviously worth it.

 

[Another Surrey Shrimper]

So would you recommend they employ someone on 200 grand a week and be happy when he only increases profits by 5%?

No one has any idea if that would be the outcome of a £200k a week CEO..

the he fact most ofc this is being paid out in shares means he will benefit from long term growth rather than an instant benefit from boom and bust.

 

[MK Shrimper]

Presumably they get more money because they produce better results. If they were not delivering good results they would be out the door. People are usually paid what they are worth in business. This bloke is obviously worth it.

You mean he makes money for those who already have **** loads of it?

Just imagine if better results meant keeping people alive or safe or educating them.

 

[Mad Cyril]

I'm sure you're right...I mean he wouldn't be interested in the kind of avoidance schemes like Ant & Dec/Jimmy Carr/Take That are a part of would he. After all, we're all in this together. :whistling:

His cash bonus and salary will be subject to PAYE and he will pay the appropriate amount of tax on them.

 

[londonblue]

I think all the amounts of money paid to bankers at the top is obscene, £200k a week would also be totally obscene. Why and how has the amount people are paid at the top spiralled so far? Don't remember anything like the disparity between the workers and the CEOs or whatever their title was when I was in the banking industry.

That's just market forces at work. Or don't you agree with that?

 

[Mad Cyril]

You mean he makes money for those who already have **** loads of it?

Just imagine if better results meant keeping people alive or safe or educating them.

The financial sector spreads a lot of money around. Especially in Essex. The taxes raised pay for an awful lot of things.

 

[OldBlueLady]

That's just market forces at work. Or don't you agree with that?

I guess I don't agree with it. I don't agree with top sportsmen and women, A-list actors or slightly talented popstars receiving obscene amounts of money either.

 

[MK Shrimper]

I guess I don't agree with it. I don't agree with top sportsmen and women, A-list actors or slightly talented popstars receiving obscene amounts of money either.

Hmm, leaning slightly to the left there Kay. :whistling:

 

[OldBlueLady]

Hmm, leaning slightly to the left there Kay. :whistling:

Not even slightly Paul, wholesale veer!

 

[Ricky Otto]

I agree with OBL, fair enough this guy hasoverseen a successful period but that is an obscene amount of money. Lots ofpeople play their part in these success stories, the money should be shared andfiltered down. This guy deserves a decent bonus but when guys at the bottom aregetting 5% of their salary on £20k making about £650 after tax it just doesn’tseem ethical to me.

 

[steveo]

I agree with OBL, fair enough this guy hasoverseen a successful period but that is an obscene amount of money. Lots ofpeople play their part in these success stories, the money should be shared andfiltered down. This guy deserves a decent bonus but when guys at the bottom aregetting 5% of their salary on £20k making about £650 after tax it just doesn’tseem ethical to me.

Gives the guys at the bottom something to aim for then, if of course that way inclined. I always try and avoid using the words success in association having lots of money. Not everyone is hellbent on having lots of money so success should be measured on how happy they are with life in general.

Some of the guys down the chain might be happy with their lot if it doesn't include lots of stress and pressure.