Lloyds Banking Group Chief Executive Antonio Horta-Osorio has apologised to staff for damaging the bank's reputation but said he intended to continue running the British lender following press scrutiny of his private life. Hayley Platt reports.
Possibly not the best way to enhance your standing at work - an apology about your private life. But Lloyds Bank boss Antonio Horta-Osorio clearly felt it was necessary. Earlier this month the UK's Sun newspaper carried a report saying the married chief executive ran up a near $5,000 hotel bill while spending time with another woman in Singapore. The tabloid alleged he had improperly claimed the personal spending as a business expense. Not true said Horta-Osorio - but "I deeply regret being the cause of so much adverse publicity and the damage it has done to the Group's reputation." The Portuguese has run Lloyds for the past five years. He's highly regarded for turning around the lender after it struggled following the financial crisis. Top investors in the bank feared Horta-Osorio might leave the post early following the press scrutiny. But, he assured, "I am as committed as ever to leading the Group forward."