Lloyds Bank CEO asked to explain pension perks to parliament

Lloyds Bank CEO asked to explain pension perks to parliament
FILE PHOTO: A woman looks at her phone as she walks past a branch of Lloyds bank in London, Britain, July 20, 2018. REUTERS/Toby Melville/File Photo Copyright Toby Melville(Reuters)
By Reuters
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LONDON (Reuters) – Lloyds Banking Group Chief Executive Antonio Horta-Osorio has been asked to explain in parliament the pension contributions paid to the lender’s executives.

Earlier this month senior lawmakers accused executives at Britain’s biggest domestic lender of “boundless greed” for failing to give up generous pension perks that eclipse those offered to its broader workforce.

Parliament’s work and pensions committee said on Thursday the hearing would take place before the summer recess.

“More details, including other organisations that may be invited to give evidence the same day, will be released in due course,” the committee said in a statement.

(Reporting by Huw Jones, editing by Sinead Cruise)

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