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UKFI Backs Return of Horta-Osorio to Lloyds CEO, Telegraph Says

Dec. 11 (Bloomberg) -- U.K. Financial Investments Ltd., the government-funded body that manages the Treasury’s 41 percent stake in Lloyds Banking Group Plc, indicated to the bank’s board that it backs the return of Antonio Horta-Osorio as chief executive officer, the Sunday Telegraph reported, without saying where it got the information.

The backing comes ahead of a board meeting on Dec. 15 at which the board must decide if Horta-Osorio is fit enough to return, the Telegraph said.

Horta-Osorio is seeking to return to work after taking medical leave last month, a person with knowledge of the matter said on Dec. 8. Lloyds’s board is requiring the 47-year-old to undergo medical examinations to show he’s well enough to return, said the person, who declined to be identified because the matter is private.

Lloyds spokesman Ed Petter declined to comment, while a spokesman for UKFI was not immediately available when contacted by Bloomberg News.

To contact the reporter on this story: Tony C. Dreibus in London at tdreibus@bloomberg.net.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.

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