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The row over bankers’ bonuses re-ignited yesterday as Lloyds admitted it is dishing out up to £6million in pay and perks to its new finance director George Culmer. After months of speculation the bank, which is 40 per cent state-owned, revealed the details of Culmer’s controversial pay package to the stockmarket. It comes less than a week after Lloyds revealed a £3.5billion loss, having been forced to set aside £3.2billion compensation to pay customers mis-sold payment protection insurance. Culmer’s remuneration was last night described as a ‘scandal’, with Business Secretary Vince Cable, a leading critic of City pay, conceding ‘it was a lot of money’. Culmer, who joins on May 16, receives a basic salary of £720,000 and a maximum bonus of £1.44million – twice his salary....Read more here--: Fury over pay and perks for Lloyds' finance chief George Culmer
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