Attempted HBOS boardroom putsch 'unanimously' rejected

An attempted boardroom putsch at HBOS by the former heads of the Bank of Scotland and the Royal Bank of Scotland has been “unanimously” rejected by the board, the bank’s chairman said tonight.

In a letter to Peter Burt and George Mathewson, Lord Stevenson said their proposal to replace him and the bank’s chief executive did not form “the basis of any further discussion between us”.

The former banking chiefs had earlier written to HBOS calling on its two top men to resign in a bid to bring an end to the planned £12bn (€14.7bn) merger with Lloyds TSB.