Monday, February 22, 2016

Sky News: Horta Osório receives more than 1 million euros in bonuses – Jornal de Negócios – Portugal

Horta Osório will receive slightly more than 800 thousand pounds in bonuses, relating to the results of 2015, writes Sky News. At current exchange rates, it is just over one million euros and is in line with the value received by Lloyds bank last year.

According to the British publication, this Tuesday there will be a meeting of the Remuneration Committee Lloyds, which sets out the amounts to be received by the various governing bodies. At this meeting, the bonus of 800,000 pounds to Horta Osorio will be ratified, slightly above the amount received last year.

However, according to Sky News, the premium is subject to various conditions, and one of which is the sale in the next three years, the participation of 9% that the British state still holds in the financial institution. This is just a bonus, which joins the other remuneration that receives, from the long-term incentive system (several million) and even the annual salary that exceeds one million pounds.

the British Government wished to have the output of the bank’s capital realized until the summer, but in late January, came the confirmation that this would not happen. The Finance Minister, George Osborne, has justified the option with the volatility that has been in the financial markets.

In total, the amount payable to various heads of Lloyds, which presents the results of 2015 on Thursday -feira, is 350 million pounds, 450 million euros. As had already been announced, this amount was reduced due to the fine imposed by the Financial Conduct Authority.

Although it is not yet official remuneration payable in Lloyds, on the other side of the Atlantic, Wall Street, already know remuneration. Citigroup paid out over 27% to its chief executive, while Bank of America remunerated 23% over last year to its CEO. JPMorgan, the increase was 35%. As for the other banks saw compensation fall:. Examples of Morgan Stanley, with a cut of 6.7%, and Goldman Sachs 4.2%


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