David Roberts, recently appointed as a non-executive director at the bank, has wasted no time in signalling his faith in his new employers, buying nearly £200,000 of shares.
Roberts bought 378,670 shares at 52.55p a time.
Roberts' appointment was announced on 11 February, following an interview with a Financial Standards Authority (FSA) panel. He still has to stand for election at the company's AGM later this year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Roberts was an executive director, group executive committee member and chief executive of the international retail and commercial banking at Barclays until December 2006.
His purchase of shares in Lloyds comes soon after it joined Barclays and Royal Bank of Scotland in reporting better than expected full-year figures. The part-nationalised lender reported a pre-tax loss of £6.3bn in the year ended 31 December compared with £6.71bn last time. Total income rose to £23.96bn from £21.36bn last time.
Investment analysts were expecting Lloyds to announce a pre-tax loss of £7.4bn on revenue of £22.6bn.
'2009 was a year of significant achievement in shaping the group,' said chief executive Eric Daniels.
'We have established positive trends in margin, cost and impairments and are well positioned. We are building strong earnings momentum and expect our performance to improve significantly in 2010 and beyond.'
Top Director Buys
Lloyds Banking Group (LLOY) Director name: Mr David RobertsAmount purchased: 378,670 @ 52.55p Value: £198,991
Top Director Sells
SABMiller (SAB) Director name: Mr Graham MackayAmount sold: 144,306 @ 1,802.22p Value: £2,600,712
Sainsbury (J) (SBRY) Director name: Mr Michael Andrew CoupeAmount sold: 160,000 @ 337.75p Value: £540,400
Rolls-Royce Group (RR.) Director name: Sir Sir John E V RoseAmount sold: 83,719 @ 558.00p Value: £467,152
Amlin (AML) Director name: Mr Charles E L PhilippsAmount sold: 95,506 @ 407.01p Value: £388,719
Rolls-Royce Group (RR.) Director name: Mr Andrew B ShilstonAmount sold: 38,816 @ 558.00p Value: £216,593
Rolls-Royce Group (RR.) Director name: Mr Mike TerrettAmount sold: 29,405 @ 558.00p Value: £164,080
Rolls-Royce Group (RR.) Director name: Mr Colin P SmithAmount sold: 28,541 @ 558.00p Value: £159,259
Rolls-Royce Group (RR.) Director name: Sir Sir John E V RoseAmount sold: 15,318 @ 558.00p Value: £85,474
Rolls-Royce Group (RR.) Director name: Mr Andrew B ShilstonAmount sold: 8,948 @ 558.00p Value: £49,930
Rolls-Royce Group (RR.) Director name: Mr Mike TerrettAmount sold: 6,559 @ 558.00p Value: £36,599
-
House prices rise 2.9% – will the recovery continue?House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
-
Nvidia earnings: what to expectNvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
