July 24, 2021

Queen Isabel II awards Portuguese with the title of ″Sir″

The Portuguese banking sector manager António Horta-Osório was awarded this Saturday by Queen Isabel II with the degree of knight of the Order of the British Empire, being entitled to the title of “Sir” before his name.

The former chief executive of Lloyds Bank was recognized by the monarch for “important service to UK taxpayers over the past 10 years, leading Lloyds Banking Group from the brink of collapse back to profitability.”

The effort to place the customer at the center of the bank’s concerns, the creation of a culture of greater equity and social responsibility are also mentioned, namely in the promotion of minorities and women for management positions.

The Portuguese also led the process of reprivatizing the bank, which was 43% owned by the state when it took office in 2011, following support given during the 2008 financial crisis.

“The progress he has spurred at the bank has enabled the Ministry of Finance to fully return the bank to the private sector, returning 21.2 billion pounds (24.7 billion euros) to the taxpayer: 900 million pounds (1,050 billion euros) more than what was originally invested”, stresses the recognition note.