Former Lloyds boss Eric Daniels to join StormHarbour Mr Daniels, who ran Lloyds for seven years and masterminded the controversial merger with HBOS in 2008, has joined StormHarbour, an advisory firm founded in 2009 by former Citigroup banker Antonio Cacorino. The ex-Lloyds boss will be named a Principal in the firm and senior adviser. Although the job is not full time it will take up a "large chunk" of his time, Mr Daniels said. The appointment will allow Mr Daniels to bring his experience of banking and bank finance to bear for StormHarbour clients which include banks, financial institutions and other companies as well as state-backed borrowers looking to either raise new finance or refinance existing debt. The company believes the UK and Europe will see a trend away from bank loans as the most common form of financing and a concerted move towards bond financing, as is the case in the US where about 70pc of debt financing comes from the bond markets. But the appointment will also resurrect memories among those Lloyds shareholders who were unhappy with the latter years of Mr Daniels' tenure. The Daily Telegraph recently revealed that Lloyds was looking at invoking claw back arrangements relating to Mr Daniels' last bonus while at the bank, which totalled £1.45m. Up to 50pc could be affected. After his departure last year, Lloyds took a £3.25bn provision on the misselling of payment protection policies. The write off was one of the first actions of Mr Daniels' successor, Antonio Horta-Osorio, who himself had to be subsequently granted a leave of absence by the bank because of stress. He has recently returned to the helm at Lloyds. Mr Daniels said: "I look back with pleasure at my time at Lloyds and look forward to my time at StormHarbour." StormHarbour has a number of offices around the world and employs 200 people, 65 of which are senior bankers leading the company's advisory business.