Lloyds set for pay deal grilling

Taxpayer-backed Lloyds Banking Group is expected to face tough questions at its annual meeting tomorrow over a multi-million-pound pay deal for its new chief executive.

Shareholder groups the Association of British Insurers (ABI) and Pirc have both raised concerns about Antonio Horta-Osorio’s signing-on deal, worth up to £13.4m, to their members.