HBOS retail chief gets £3.25m bonus - Papers 30th March

The paper says the bank has confirmed Hornby, will receive 260,000 shares in April, after beating targets aimed at lifting profits in the unit by 60% or more over three years. Hornby, who is seen as a potential successor to James Crosby, the bank’s chief executive, will receive a further 130,000 shares under the retention package if he promises to hold on to the stock until 2008. The package comes at the end of a good year for the bank that has seen several senior executives, including Hornby, scoop additional bonuses under a one-off short-term incentive scheme started in 2004. The ...