The senior executives of collapsed bank HBOS will come under fire from MPs on Thursday with the publication of a damning report on the failed bank.
According to the FT, the report from the Parliamentary Commission on Banking Standards will also reveal that the total cost of bailing out HBOS was close to £30bn. It will offer harsh criticism of the series of failures on risk controls and corporate governance which led to the bank's high profile collpase in 2008. Citing sources familiar with the paper, the FT reports Lord Stevenson, chairman of the bank from its creation up to 2008, Sir James Crosby who was chief executive up to early 2007, and Andy Hornby, CEO for the following two years, are set to be the main focus of the report’...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
