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Bank charges: Government will not strip HBOS executives of their titles

Prime minister David Cameron has said that he will not be stripping former chief executives at HBOS bank of their titles.

Following a report from the Banking Standards Commission, there were calls for former chief executive Sir James Crosby and former chairman Lord Stevenson to be stripped of their titles.

The report criticised the practices of Mr Crosby and Mr Stevenson, as well as of another former chief executive, Andy Hornby, saying that they were responsible for the downfall of HBOS bank during the financial crisis.

Mr Cameron said that whether or not Mr Crosby and Mr Stevenson should keep their titles is something that a private committee should decide. The Forfeiture Committee can choose to remove the former bankers’ titles.

Since the report was published, Mr Crosby has stepped down from his job as advisor at the private equity firm Bridgepoint.

Previously, Mr Cameron had Fred Goodwin’s knighthood removed following the collapse of Royal Bank of Scotland.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801568039-ADNFCR

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