Skip to content
Subscriber Only

Lloyds Shareholders Lodge Protest Vote Over Executive Pay

  • 36% of voters reject pay policy, far higher than last year
  • Lloyds CEO Horta-Osorio is one of highest-paid U.K. bankers

More than a third of Lloyds Banking Group Plc’s voting investors protested the bank’s plan to change how it pays executives, though their concerns weren’t enough to block the policy.

At the U.K. bank’s annual meeting Thursday, 36% of voting shareholders rejected Lloyds’s remuneration policy, which sets out how it will reward top staff for the next three years. A similar number voted against changes to the lender’s long-term share plan.