Now fund manager Peter Hargreaves, of Hargreaves Lansdown, appears to have confirmed these suspicions with a trenchant criticism of bonuses paid to bosses of the main retail clearing banks. “Zombie bankers”, he calls them.
“They pay 1 per cent or 0.1 per cent interest but charge 6-7 per cent to borrow. It’s not difficult to make money [but] how they got it wrong is a mystery”, the financier fumes.
Peter Hargreaves’ personal stake in the Bristol-based stockbroking firm is reportedly worth £800 million, the company employs 650 people and manages savings of 350,000 customers worth £22.3 billion. He saves most of his ire for the £1.45 million bonus paid to Lloyd’s boss Eric Daniels who, he says, should have got a P45 and not a bonus.
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