Lloyds CEO Charlie Nunn latest banking boss in line for huge bonus hike

Barclays, HSBC and NatWest shareholders already approved big pay rises after post Brexit loosening of remuneration rules

Lloyds Banking Group boss, Charlie Nunn, could be in line for a maximum annual pay packet worth more than 13m, as he becomes the latest boss to benefit from the UK's controversial decision to lift a cap on banker bonuses.

The bank's remuneration committee has begun drafting a new three-year executive pay policy that, for the first time, will take advantage of looser pay rules that have sent potential payouts soaring at rival banks.