Lloyds error over chief’s share gifts

LLOYDS has been forced to reveal that its chief executive handed thousands of shares to his children – almost a decade after the transfers took place.

An administrative error by the bank meant the market was never notified when Antonio Horta-Osorio gave the stock to his two daughters and son in 2011 and 2012.

Horta- Osorio gave his daughter Maria 21,000 shares between 2011 and 2012. His other daughter Margarida was handed 10,600 and son Pedro was given 9,800. The gifts only came to light this week in a stock market announcement, when Lloyds said it had been notified by Horta-Osorio of the transfers.

Companies listed on the stock market must notify investors and the Financial Conduct Authority when their directors give shares to close relatives. But the Mail understands the FCA will not be pursuing Lloyds’ error further.