after lender's bill for mis-selling PPI spirals

Former Lloyds boss Eric Daniels looks set to lose every penny of his £1.45million bonus after the lender’s bill for mis-selling PPI spiralled to almost £10bn last year. Lloyds is already thought to have clawed back 80 per cent of Daniels’ 2010 annual bonus of £1.16million over the scandal. But over the next few days the remuneration committee will decide what happens to the remainder of the deferred shares bonus – thought to now be worth an estimated £370,000 – which is due to be triggered next month. Insiders believe that the committee is likely to recoup all of the money. Daniels ran Lloyds TSB and then Lloyds Banking Group from 2003 to 2011 at the height of the mis-selling scandal. The lender is still reeling from the fallout, setting aside another £3billion last year to compensate customers. This dragged it down to a small pre-tax profit of £415million.......Read more here