Love rat Lloyds boss promises to ‘learn from his mistakes’ in grovelling affair apology to his 75,000 employees
Antonio Horta-Osorio said he regretted being the cause of "adverse publicity"
BANK chief Antonio Horta-Osorio said he deeply regretted being the cause of "so much adverse publicity" over his Singapore fling with his lover.
Horta-Osorio, 52 — whose affair with Dr Wendy Piatt on a business trip was exposed by The Sun — sent a grovelling apology to 75,000 Lloyds staff this morning.
The £8million-a-year CEO, 52, broke his silence for the first time since The Sun exposed his four-year affair with education expert Dr Wendy Piatt a fortnight ago – but he will not be quitting over the fling.
The married dad of three, who ran up a £4,000 hotel and spa bill wooing Dr Piatt in Singapore, listed a string of Lloyds' achievements in the apology.
He added: "My personal life is obviously a private matter as it is for anyone else. But I deeply regret being the cause of so much adverse publicity and the damage that it has done to the group's reputation. It has detracted from the great work which you do for our customers on a daily basis and the major accomplishments of the past five years.
"More broadly, I have been a strong advocate of expecting the highest professional standards from everyone at the bank, and that includes me. I will continue to strive to meet those standards. Having the highest professional standards raises the bar against which we are judged and as I have always said we must recognise that mistakes will be made.
"I don't expect anyone to anyone to get everything right all the time. The important point being how we learn from those mistakes and the decisions and actions we take afterward."
He continued: "With that in mind, please be assured that I am as committed as ever to leading the Group forward to deliver our strategy and to meet our future ambitions. Thank you again for your messages of support over the last few weeks. I have greatly appreciated them.
Horta-Osorio pledged his future to the bank and has refused to resign, despite writing an employee’s Code of Responsibility handbook in 2013 ordering staff “to do the right thing” and “lead by example.”
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A friend said: “He knows the highest standards must apply to him which is why he is doing this. He has let the side down. But he will commit to sticking around.
It comes six days after he and wife Ana put on a united front by attending a funeral in Lisbon hand-in-hand. They have been married 25 years.
Dr Piatt, Director General of the Russell Group which sources funding for university research, has not been seen since the story broke.
Horta-Osorio took Dr Piatt on a week-long trip to Singapore in June, while both were on official business.
Lloyds has defended him, saying all personal expenses were filed separately from business ones. It said there had been “no breach” of the bank’s expenses policy.
INQUIRY FOR DR WENDY
DR Wendy Piatt is being investigated by bosses to see whether she breached rules by meeting Horta-Osorio while on a business trip.
Her affair with the bank boss is understood to have caused concern with the Russell Group’s board and she has yet to return to work.
The inquiry into Dr Piatt, a former adviser to Tony Blair, comes as part of a wide-ranging review of the group in the wake of the scandal.
Sources say Dr Piatt is being probed over her expenses and booking of flights to Singapore. One said: “Wendy is hiding from the media storm. She’s officially on annual leave, but everyone knows she’s not ready to face this yet.
“Wendy is under a lot of pressure and her job is on the line. There are some senior figures at the Russell Group who are very unhappy with what has emerged.”
Asked yesterday if Dr Piatt’s conduct and her expenses were being investigated, a spokesman said: “Dr Wendy Piatt is currently on planned annual leave.
“The board is carrying out a review into some of the processes of the Russell Group organisation and expect to conclude the review later this year.”