Lloyds Boss Summoned Before MPs Over Pension Payments

Law360, London (May 23, 2019, 6:53 PM BST) -- The boss of Lloyds Banking Group PLC has been called before members of Parliament to explain pension contributions paid to the bank’s top executives, lawmakers announced Thursday, after the lender was accused of “boundless greed” last week.

The House of Commons Work and Pensions committee and the Business, Energy and Industrial Strategy committee have both invited Lloyds chief executive António Horta-Osório to answer questions on the size of its executive pension payments ahead of the summer recess — which will break in July. The head of the bank’s remuneration committee Stuart Sinclair has also been asked to appear.

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