CompaniesJun 12 2013

Former HBoS chief Crosby formally stripped of knighthood

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James Crosby, former chief executive of Halifax Bank of Scotland, has been formally stripped of his knighthood, The Telegraph has reported.

Widespread reports cite journal of record The London Gazette as confirming Mr Crosby’s knighthood was repealed. According to The Telegraph this followed a meeting of Whitehall’s Honours Forfeiture Committee on 6 June.

Mr Crosby had previously requested his knighthood be taken away and surrendered almost a third of his pension following an investigation into the collapse of HBoS.

Mr Crosby was described by MPs as the “architect” of the collapse of HBoS, in a highly-critical report published by the Parliamentary Commission on Banking Standards. The report did not call for Mr Crosby’s knighthood to be stripped.

The former banker told MPs when he requested the removal of the honour: “In view of what has happened subsequently to HBoS, I believe that it is right that I should now ask the appropriate authorities to take the necessary steps for its removal.”