HBOS chief exec to stand down

The first chief executive of merged financial giant Halifax Bank of Scotland (HBOS) today announced plans to quit the group in the summer.

The first chief executive of merged financial giant Halifax Bank of Scotland (HBOS) today announced plans to quit the group in the summer.

James Crosby, who became chief executive of Halifax in 1999 and led it into a tie-up with Bank of Scotland in 2001, said it was the right time for “someone else to take HBOS forward”.

The change, which has been the subject of speculation in recent weeks, will see chief operating officer Andy Hornby step into Mr Crosby’s job.

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