Skip to main content

Former British Banker Is 30 Percent Sorry For Helping Destroy Company

  • Author:
  • Updated:

James Crosby, a former chief executive of HBOS, said on Tuesday that he would ask authorities to remove his knighthood in light of a damning report published last week that blamed him in part for the mortgage lender’s 2008 collapse. “Shortly after I left HBOS, I received the enormous honor of a knighthood in recognition of my own – and many other people’s – contribution to the creation of a company which was then widely regarded as a great success,” Mr. Crosby said in an e-mailed statement. “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.” Mr. Crosby said he was “deeply sorry for what happened at HBOS” and that he “always tried to act with integrity.” “I would like to express my sincere regret for events,” he wrote in the e-mail. He also said he would give up 30 percent of his pension, which currently is about £580,000 ($887,700) a year. [Dealbook]