The banking group could face a shareholder rebellion over the issue at its annual general meeting on 24 May. CEO António Horta Osório saw his pay rise to £ 6.4 ##m ( $ 8.6 m ) in 2013 , up 11 % from the previous year . Advisory group Institutional Securities Services ( ISS ) has recommended that shareholders reject the bank ’s remuneration report due to differences between “ pay and relative performance ” . ISS also highlighted Lloyds ’ “ unduly complex ” compensation awards and the lack of transparency about how such awards were determined . Glass Lewis , another advisory firm , has recommended support for the remuneration report .
The banking group could face a shareholder rebellion over the issue at its annual general meeting on 24 May. CEO António Horta Osório saw his pay rise to £6.4m ($8.6m) in 2017, up 11% from the previous year. Advisory group Institutional Shareholders Services (ISS) has recommended that shareholders reject the bank’s remuneration report due to discrepancies between “pay and relative performance”. ISS also highlighted Lloyds’ “unduly complex” bonus structure and the lack of clarity about how such awards were determined. Glass Lewis, another advisory firm, has recommended support for the remuneration report.