Home » HBOS You are browsing entries tagged with “HBOS”

The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

February 27th, 2010 (updated June 22nd, 2012) HBOS’s entrance on The Mound; Image: The We Lessons must be learnt from the short and calamitous history of HBOS, the bank which effectively went bust in September 2008, writes Ian Fraser (Note: This article was first posted under the headline “HBOS: When did the rot set in? […]

June 22nd, 2012 | Posted in Blog | Read More »

Financial regulation: With Griffith-Jones’ appointment, Britain keeps it in the family

By Ian Fraser Published: Qfinance Date: June 18th, 2012 I was surprised and exasperated to learn last week that chancellor George Osborne has rubber-stamped the appointment of John Griffith-Jones, the senior partner of KPMG, as chairman-designate of the Financial Conduct Authority, one of the two financial regulators that will take over from the soon-to-be-disbanded FSA. As […]

June 18th, 2012 | Posted in Article Library,Blog | Read More »

The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

Editorial note: June 22nd, 2012 A revised and updated version of this blog is now available via the following link:- The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

May 13th, 2012 | Posted in Blog | Read More »

Clydesdale’s retreat

By Ian Fraser Published: Sunday Herald Date: May 6th, 2012   It was supposed to be Scotland’s safe bank. What went wrong? By Ian Fraser Call it Cameron Clyne’s ‘Derby’ moment. At a council of war in that East Midlands city in 1745, Bonnie Prince Charlie had to concede that weak generalship, poor logistics and […]

May 6th, 2012 | Posted in Article Library | Read More »

John Kay on the illusory nature of bank profits

April 16th, 2012 In this speech the economist and author John Kay examined how the financial sector continues to make — or claims to make — returns-on-equity which are way in excess of any reasonable estimate of cost of capital. Kay, a visiting professor at London School of Economics, examined various possible reasons but then focused on […]

April 16th, 2012 | Posted in Blog | Read More »

‘Now that the FSA chief executive has gone – its chairman should be next’

By Ian Fraser Published: Sunday Herald Date: March 18th, 2012 One of Scotland’s highest-profile investment experts, Alan Steel, has called on Financial Services Authority chairman Lord Turner to “consider his position” following Friday’s surprise resignation of the watchdog’s chief executive, Hector Sants. Sants’s departure followed a Sunday Herald exclusive in which influential Conservative Treasury Select […]

March 20th, 2012 | Posted in Article Library | Read More »

FSA bombshell changes everything for ex-HBOS directors Crosby, Stevenson and Cummings

March 10th, 2012 Yesterday was an extraordinary day in the world of banking. First we had confirmation from Barclays, Lloyds Banking Group and Royal Bank of Scotland that they are doling out obscene sums in bonuses to executives, even as performance flags and share prices plunge. Then we had the ridiculous saga of the IDSA determinations […]

March 10th, 2012 | Posted in Blog | Read More »

Fallon moves to prevent Hector Sants’s appointment as head of FSA successor body

By Ian Fraser Published: Sunday Herald Date: March 4th, 2012 Hector Sants, current chief executive of the Financial Services Authority (FSA), is not the right man to lead the London-based regulator’s successor body the Prudential Regulatory Authority (PRA), one of the Conservative Party’s chief spokesmen on financial services has declared. “I have deep reservations about […]

March 4th, 2012 | Posted in Article Library | Read More »

If Hector Sants gets the PRA job, it’ll be the ultimate reward for failure

By Ian Fraser Published: QFINANCE Date: February 15th, 2012 The Financial Services Authority‘s chairman Lord Turner made a fairly staunch defense of FSA chief executive Hector Sants at a hearing of the Treasury Select Committee on January 30. But some of the MPs on the committee seemed unconvinced that Sants, who earned £807,000 as FSA chief executive in 2010, is the […]

February 15th, 2012 | Posted in Article Library,Blog | Read More »

FSA’s Hector Sants passes the buck for financial crisis

By Ian Fraser Published: QFINANCE Date: February 14th, 2012 At a hearing of the Treasury Select Committee last month Hector Sants (full video above), chief executive of UK regulator the Financial Services Authority, seemed determined to persuade the MPs that he had done something – anything – to prevent the failure of Royal Bank of Scotland. […]

February 14th, 2012 | Posted in Article Library,Blog | Read More »