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MPs call for Lloyds Bank CEO's resignation

MPs call for Lloyds Bank CEO's resignation

MPs have called for the resignation of Lloyds Banking Group chief executive Antonio Horta-Osorio over its handling of the HBOS fraud.

In a parliamentary debate on Tuesday, Kevin Hollinrake, the Conservative chair of the All-Party Parliamentary Group on Fair Business Banking, called on the Financial Conduct Authority to investigate whether Horta-Osorio (pictured) breached his responsibilities under the Senior Managers’ Regime.

Hollinrake accused the bank of mistreating a whitleblower, the Financial Times reported.

The fraud at HBOS took place before Horta-Osorio joined the bank, but he was the chief executive when a former employee wrote a report detailing the crimes.

It has now been more than a decade since the events at HBOS took place – between 2002 and 2007 – which saw six people jailed for a total of 47 years last year.

Lloyds has been criticised for the slow progress in admitting wrongdoing and paying victims, although most of the victims have now accepted compensation.

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