This is a joke.

have sold all my shares do not like the news that the wimp could come back

From earlier this am.


1039 GMT [Dow Jones] The management situation at Lloyds Banking Group
(LLOY.LN) means that it will be a few months before the market becomes entirely comfortable with the company, says Shore Capital, in light of reports that chief executive Antonio Horta-Osorio wants to return to work following a period of absence. The company will need to ensure that convincing safeguards are put in place to prevent a recurrence of the situation which led the CEO to take time off for fatigue. This may involve putting a deputy CEO in place, while also giving greater responsibility to the other executives. Lloyds Banking Group declines to comment on its CEO. Shore has the stock rated at hold.

Shares are down 6.4% at 25p

Finished down nearly 9% as with the other banks down 6%

This should move up slowly from here.

Lloyds may decide on CEO this week - sources




{ Sudip Kar-Gupta, 17:11, Tuesday 13 December 2011

LONDON (Reuters) - The position of Lloyds Banking Group Plc chief Antonio Horta-Osorio may be decided at a board meeting on Thursday of the British lender, sources said, six weeks after the CEO went on sick leave suffering from stress.

The meeting is shaping up to be more than usually important in determining the future of the bank, as it may also decide on how best to dispose of some 630 retail branches, said the sources who had knowledge of the matter.

Lloyds declined to comment on the matter.

Lloyds, which is 40 percent owned by the British government after a bailout during the 2008 credit crisis, has to resolve the two major issues -- the sale of the branches and the fate of Horta-Osorio -- before the end of the year.

Since it shocked investors last month by saying 47-year old Horta-Osorio was taking a break after suffering a stress-related illness, the bank has been assessing whether he should return to his position, a source involved in the process has told Reuters.

However, there is a growing sense among investors and analysts that Horta-Osorio may not return to his post, even though he has the support of UKFI, the government body managing the taxpayer's stake in the bank.

Lloyds' assessment of Horta-Osorio has included meetings between him and other board members and has also entailed having an independent medical expert examining him.

Lloyds has already formed back-up plans in case he does not return. Finance Director Tim Tookey, due to move to insurer Resolution in February, has been caretaker CEO.

Last month, Lloyds also named David Roberts, a 49-year-old non-executive director and former Barclays Plc executive, as an interim CEO in the event of a delay in Horta-Osorio's return.

NBNK, CO-OP VIE FOR VERDE BRANCHES

Horta-Osorio's illness was particularly badly timed for Lloyds since the bank is close to deciding its preferred option over the sale of 630 branches -- a disposal forced on it by regulators as payback for its state-led rescue.

Lloyds is assessing three options for the deal, which it has code-named "Project Verde" -- a sale to new bank venture NBNK, a sale to mutually-owned Co-Op or spinning off the branches into a new entity, then listing it on the stock market.

One source involved in the process said NBNK had made a fresh bid submission to Lloyds on December 12.

"The bid went in yesterday. It was a tweak to the asset package," said the source.

However, the sale has been affected by the market turmoil caused by Europe (Chicago Options: ^REURUSD - news) 's sovereign debt crisis.

Sources with knowledge of the matter have said initial bid approaches put a 1.5 billion pound price tag on the Verde assets, which is less than their full book value.

Both NBNK and Co-Op have stepped up their lobbying over the sale in recent weeks, with the former pledging not to cut any jobs if it buys the branches, and Co-Op arguing the benefits of its mutually owned structure.

Co-op has also highlighted that its bid for the Lloyds branches is being led at the top level of the group and its Chief Executive Peter Marks has been in regular contact with Lloyds.

"Peter Marks has been talking head-to-head with Lloyds and has been down to London on a regular basis," said a source with knowledge of the matter.

Acquiring the Lloyds retail branches offers NBNK and Co-Op the chance to create Britain's seventh-biggest bank in one bold step.

Lloyd's Verde assets include 4.6 percent of personal current or checking accounts and 5 percent of the mortgage market, contributing about 500 million pounds of pretax profit in 2008 and income of about 1.4 billion.

Not before time!

Just in time for his xmas bonus.

How LLOYs managed to become intangled with yet more risk-takers I don't know - and the top man appear to be unable to turn up. Is the wage-packet too heavy, I could sympathyse with that. Grr!

This was a well-run UK_Bank until madness overtook them and they bought HBOS - indeed the Government should have PAID them to take it, about 2bn at least until their woeful situation unwound - - - is this known now?

Lloyds now has its AGM in Edinburgh (DYOR), so I presume this prevents most UK investors going. . . . and all Resolutions are passed by the Institutional Owners (except they aren't owners=- only custodians of OUR pension monies....

this bank has a chairman that has stated many times what GREAT JOB that
daniels did and this idiot lunatic is still chairman .
this should tell you that the bank is run by idiots

George Brown talked them into HBOS , he did think of offering them Gold as an inducement but then remembered he hadn't any

this rubbish that it was brown is childish and silly it was all down to
DANIELS and that is the truth and fact ,
people that post it was brown should not be investing

I agee Daniels seriously missled investors just like Horby did.

George Brown!

-):

Another Labour failure .

How could i have forgotten dear old Gordon

Now that's a question only you can answer.

Hic!

TANKER

I know that Paul was very good at pulling rabbit's out of hat's but HBOS was a bit more difficult.

Apparently, the situation with regard to Horta-Osario's job is being described as him having to re-apply for it, with the meetings with him and the board's directors described as 'interviews'.