Bankers refuse to back down over HBOS takeover

Two former bank chiefs hoping to derail Lloyds TSB’s takeover of HBOS refused to back down today despite Gordon Brown’s dismissal of their calls for the bank to stay independent.

Peter Burt and George Mathewson said they remained committed to their campaign to force out the bank’s chairman and chief executive and keep HBOS as a stand-alone bank.