Cryptic crossword clue
Head of Lloyds recently employed by betting firm’s subsidiary 10

The most common and most likely answer to this crossword clue is the 10 letter word COLLATERAL

I've seen this crossword clue in Independent
C
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The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does COLLATERAL mean?

COLLATERAL noun
  1. A security or guarantee (usually an asset) pledged for the repayment of a loan if one cannot procure enough funds to repay.
  2. (genealogy) A collateral (not linear) family member.
  3. A branch of a bodily part or system of organs.
  4. Printed materials or content of electronic media used to enhance sales of products (short form of collateral material).
  5. A thinner blood vessel providing an alternate route to blood flow in case the main vessel becomes occluded.
  6. A contemporary or rival.
COLLATERAL adjective
  1. Parallel, along the same vein, side by side.
  2. Corresponding; accompanying, concomitant.
  3. Being aside from the main subject, target, or goal.
  4. (genealogy) Of an indirect ancestral relationship, as opposed to lineal descendency.
  5. Relating to a collateral in the sense of an obligation or security.
  6. Expensive to the extent of being paid through a loan.
  7. Coming or directed along the side.
  8. Acting in an indirect way.
  9. (of a vascular bundle) Having the phloem and xylem adjacent.

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