LONDON - CVC Capital Partners, a European private equity firm, has tapped the former chief executive of Lloyds Banking Group, Eric Daniels, to be a senior adviser for its banking team.
Mr. Daniels retired from Lloyds in 2011 and under his watch, the bank grew into Britain’s largest mortgage provider. But he also led the flawed acquisition of the troubled mortgage lender HBOS in 2008, which forced Lloyds to seek a government bailout during the financial crisis.
The bank clawed back some of Mr. Daniels’ 2010 bonus last year when Lloyds admitted it had made mistakes in selling certain insurance products to customers when Mr. Daniels was chief executive.
Jonathan Feuer head of CVC’s financial institutions group, said the company had hired Mr. Daniels for his “breadth of knowledge and understanding in banking, insurance and wealth management.â€
After leaving Lloyds, Mr. Daniels, an American, also became a senior adviser to the financial advisory firm StormHarbour. He is also a board member of the Smithsonian Tropical Research Institute.
