HBOS executive to get £2.2m bonus

The boss of the retail arm of banking group HBOS is to receive shares worth £2.2m (€3.1m) as part of an incentive plan designed to persuade him to stay with the company, it was confirmed today.

Andy Hornby, aged 38, was offered a long-term bonus in 2002 after receiving an approach to join a retail chain, widely thought to be Boots.