Bloomberg News

Lloyds Banking Seeks to Speed Up CFO Start Date, Telegraph Says

November 27, 2011

Nov. 27 (Bloomberg) -- Lloyds Banking Group Plc is negotiating for George Culmer, its new chief financial officer, to start earlier than his existing contract allows, the Sunday Telegraph reported, without saying where it got the information.

The bank may pay 6 million pounds ($9.26 million), allowing Culmer to join before the expiry of a 12-month notice period in his contract with current employer RSA Insurance Group Plc, the newspaper reported today. The fee paid would include compensation to RSA, it said.

--Editors: Sharon Lindores, Colin Keatinge

To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus