Ex HBOS boss to return honour

Former HBOS chief executive Sir James Crosby, who was criticised in a recent parliamentary report into failures at the bank, has announced that he will give up his Knighthood and forego 30 percent of his gross pension entitlement.

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  1. Richard Edgar

Friends of James Crosby: Honour decision was difficult

I have spoken to people close to the former HBOS chief Sir James Crosby who say that these two decisions, to forego his knighthood and almost a third of his pension, have been very difficult for him to take.

They say he was taken aback by his portrayal in the press, and he hopes that this sacrifice will be seen as appropriate and will stop what he saw as a witch hunt against him.

It is too early to say whether it will work, but I have spoken to some people who suffered as a result of what went on at HBOS and they have welcomed the steps.

Read: Former HBOS boss James Crosby gives up Knighthood

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