Eric Daniels

AAA

DEFINITION of 'Eric Daniels'

The group chief executive of London-based Lloyds Banking Group Plc since 2003. Lloyds is one of the United Kingdom's largest banks. Daniels streamlined the company, selling its New Zealand and Brazil operations to improve profits. Along with then-chairman Sir Victor Blank, Daniels led the purchase of HBOS in 2008, which initially created multi-billion-dollar losses for Lloyd's. In the aftermath of the 2008 global financial crisis, Daniels was one of the few heads of a British financial company to keep his job. He waived his large bonuses for 2008 and 2009 under social and political pressure.

BREAKING DOWN 'Eric Daniels'

Born in 1951 in Montana, Daniels earned his undergraduate degree from Cornell. Upon earning his masters in management from the Massachusetts Institute of Technology in 1975, he began his career with Citibank and, over the next two decades, worked in its Panama, Argentina, Chile and London divisions. In 1998 he went to Travelers Life & Annuity, a division of Citibank, as its chairman and CEO.



RELATED TERMS
  1. Board Of Directors - B Of D

    A group of individuals that are elected as, or elected to act ...
  2. John T. Chambers

    The president and CEO of Cisco Systems, a consumer electronics, ...
  3. Chairman

    An executive elected by a company's board of directors that is ...
  4. Branch Banking

    Engaging in banking activities such as accepting deposits or ...
  5. Corporate Headquarters

    A place where a company's executive offices and executives' direct ...
  6. Corporate Governance

    The system of rules, practices and processes by which a company ...
Related Articles
  1. Entrepreneurship

    Female CEOs Who Climbed The Corporate Ladder

    These women climbed the ladder and broke the glass ceiling.
  2. Professionals

    Management Strategies From A Top CEO

    Find out what this winning manager did to grow one of the biggest companies in the world.
  3. Active Trading

    The Best CEOs Listen To The Street

    Studies show that transparency and listening to the market are a winning combination for CEOs and the companies they run.
  4. Entrepreneurship

    CEOs Who Blazed The Trail (Kroc, Hock And Welch)

    The right CEO can make all the difference in a company's market position.
  5. Investing

    Nasty Shareholder Activist Battles And Why They Happened

    Shareholder activists can have a big impact on a company's operations. These battles turned ugly as management lost control.
  6. Entrepreneurship

    The CEO Dream Team - Walton, Schwab, Marcus And Blank

    The successes of these three CEOs can be linked back to one common factor: customer service.
  7. Professionals

    You Don't Know Jack Welch

    This engineer climbed the corporate ladder to lead his company into double-digit growth.
  8. Entrepreneurship

    How Peter Thiel Became a Superstar

    A review of the career of legendary Silicon Valley entrepreneur and investor Peter Thiel.
  9. Investing

    PayPal Vs. Venmo: Function versus Fun

    PayPal and Venmo are both great services depending on what the customer wants.
  10. Investing Basics

    Why These Are the Most Valuable Brands of 2015

    A company's brand can be worth billions of dollars. Here are the most valuable global brands in 2015.
RELATED FAQS
  1. How are Rupert Murdoch's holdings distributed?

    Rupert Murdoch owns a controlling share of News Corporation and over 750 different businesses. Some of the major brands he ... Read Full Answer >>
  2. How did Bernard Baruch attain his wealth?

    Bernard Baruch obtained his fortune by investing in profitable stocks on Wall Street. Baruch is known as a legendary stock ... Read Full Answer >>
  3. Why was Bernard Baruch known as the "Park Bench Statesman?"

    As someone who preferred to conduct his meetings in informal settings and was led by persuasion rather than pressure, Bernard ... Read Full Answer >>
  4. How did Nathan Rothschild become a stock exchange speculator?

    Market maker Nathan Rothschild learned much of his financial savvy from his father, who dealt in coins and paper money. He ... Read Full Answer >>
  5. What advice does Howard Schultz offer would-be business moguls?

    Starbucks CEO, billionaire and former sports tycoon Howard Schultz has several pieces of advice for would-be moguls and, ... Read Full Answer >>
  6. Why did Howard Schultz leave Starbucks, only to return eight years later?

    Howard Schultz left Starbucks in 2000 due to exhaustion from growing Starbucks from a regional coffee chain to a global company ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Bubble Theory

    A school of thought that believes that the prices of assets can temporarily rise far above their true values and that these ...
  2. Stock Market Crash

    A rapid and often unanticipated drop in stock prices. A stock market crash can be the result of major catastrophic events, ...
  3. Financial Crisis

    A situation in which the value of financial institutions or assets drops rapidly. A financial crisis is often associated ...
  4. Election Period

    The period of time during which an investor who owns an extendable or retractable bond must indicate to the issuer whether ...
  5. Shanghai Stock Exchange

    The largest stock exchange in mainland China, the Shanghai Stock Exchange is a nonprofit organization run by the China Securities ...
  6. Dead Cat Bounce

    A temporary recovery from a prolonged decline or bear market, followed by the continuation of the downtrend. A dead cat bounce ...
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!