Departing Midland pair in line for pounds 3.1m payout
Thursday 16 July 1992
Mr Whitson succeeds Brian Goldthorpe, who will take charge of risk management in Hongkong Bank's parent, HSBC Holdings.
Midland confirmed that Gene Lockhart, chief executive of UK banking, is to leave, as his job has disappeared following the HSBC takeover. Mr Lockhart has a contract with three years' notice and a salary of pounds 400,000, so could claim pounds 1.2m. His share options would give a pounds 500,000 profit.
George Loudon, chief executive of Midland Montagu, is thought to be Midland's second-highest- paid executive on pounds 395,000 a year, and could claim almost pounds 1.2m, plus another pounds 200,000 profit on options.
HSBC Holdings, the new parent of Midland, has given no indication of whether it will agree to the full payout of pounds 3.1m.
- 1 What happens to your body when you give up sugar?
- 2 Tourist films plane's descent just metres above packed Caribbean beach
- 3 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 4 Have sex with your iPad thanks to the new sex toy no-one asked for
- 5 GamerGate: developer Tim Schafer provokes rage with joke about online gaming activists at industry awards
Harrison Ford plane crash: Actor will make full recovery thanks to 'beautifully executed' landing
Tourist films plane's descent just metres above packed Caribbean beach
Oxford whistleblower's attempt to protect young victim of a sadistic gang went unheeded
How Homer Simpson discovered the Higgs boson over a decade before scientists
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Elif Shafak: Turkish author warns against rise of British nationalism
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...