Former HBOS boss Sir James Crosby to hand back knighthood
ByThe Courier Reporter
Former HBOS chief executive Sir James Crosby has said he wanted to be stripped of his knighthood and would give up 30% of his £580,000 a year pension after last week’s scathing report into the bank’s collapse.
Sir James, who stepped down from his role with private equity firm Bridgepoint on Friday, said he was “deeply sorry” for what happened at HBOS and the “ensuing consequences” for the bailed-out bank’s staff, shareholders and taxpayers.
The bank’s former boss was given a knighthood after leaving HBOS in 2006, but said he believed “it is right that I should now ask the appropriate authorities to take the necessary steps for its removal”.
Former HBOS boss Sir James Crosby to hand back knighthood