LLOYDS Banking Group is under mounting pressure to provide an update on the leadership vacuum created by the absence of its chief executive, it was claimed yesterday.
Major institutional shareholders told weekend newspapers that they are concerned at the lack of information provided by the taxpayer-backed bank since Antonio Horta-Osorio left on sick leave two weeks ago.
Lloyds has said it hopes its Portuguese boss will return to his post by the end of the year.
But investors told the newspaper it will be difficult for Mr Horta-Osorio, who is understood to be suffering from fatigue due to overwork, to resume his role even if he returns to full health.
The group’s finance director Tim Tookey is currently in charge but he is due to leave in February to join Friends Provident life assurer Friends Life.
One investor questioned why the bank had not sped up its contingency plan as to what it would do if Mr Horta-Osorio is unable to return.
