Calls for HBOS execs to be banned for life from City

The Banking Standards Commission has asked the Financial Services Authority (FSA) to consider if three former HBOS bankers should be barred from future roles in the financial sector.

In an unprecedented move, the Commission said former bosses Sir James Crosby and Andy Hornby were largely to blame for the collapse of HBOS, then the UK's fifth-biggest bank, in 2008. Former chairman Lord Stevenson was also heavily criticised, with the commission accusing the trio of a "colossal failure" of management, according to reports. It said: "The primary responsibility for the downfall of HBOS should rest with Sir James Crosby, architect of the strategy that set the course for disaster, with Andy Hornby, who proved unable or unwilling to change course, and Lord Stevenson, who ...