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Ex-Lloyds boss Daniels takes on private equity role
Markets
by Jun Merrett on Mar 05, 2013 at 10:27
Former Lloyds Banking Group chief executive Eric Daniels has been appointed senior adviser at private equity firm CVC Capital Partners, the Daily Mail has reported.
Daniels (pictured), who retired from Lloyds in 2011 with a £5 million pension, is also working in an advisory role at investment bank StormHarbour and is a non-executive director at headhunter firm Russell Reynolds.
Last month Lloyds published figures which showed it received almost 1.4 million complaints on PPI during 2012 while the Financial Services Authority fined the bank £4.3 million after up to 140,000 customers had their compensation delayed.
Daniels is also set to see his bonus cut again under Lloyds' extended clawback on its 2010 bonus payments as a result of its rising compensation costs for PPI mis-selling.
Daniels already saw his £1.45 million bonus cut by 40% in 2012 but further cuts will see it shrink again by 30%.
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