Ex-HBOS chief stripped of knighthood

Former HBOS chief executive James Crosby has been stripped of his knighthood, the UK Cabinet Office has said.

The move comes after Crosby asked for his knighthood to be removed, following a highly critical report released by the Banking Standards Commission last April. The report by the government body cited Crosby as the "architect" of the strategy that led to HBOS' downfall. Crosby was awarded the knighthood in 2006 after he had left HBOS, where he served as chief executive from 2001 to 2006. The announcement in the London Gazette read:"Letters Patent dated 11 June 2013 have passed the Great Seal of the Realm cancelling and annulling the Knighthood conferred upon James Robert Crosby on t...