The Portuguese told the group’s board that he does not want to be considered for an annual bonus following a two-month stress-induced leave of absence taken between November 2011 and the start of January. The 47-year-old’s announcement that he would be taking a leave of absence saw rating agency Moody’s warn that it may have to downgrade the bank. The rating agency said in November that Lloyds faced a “major challenge in ensuring continuity of leadership” with Horta-Osório’s stand-in, Tim Tookey, set to leave the bank in February 2012. Moody’s ultimately elected to leave the bank’s rating unaffected. Send us your thoughts (in strict confidence) or submit an article in response: Email: [email protected]
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Will markets in 2012 have a tougher time than 2011?