The Bankers and board members (1)
Chief executive until 2006. In 2009, he resigned as deputy chairman of the Financial Services Authority (FSA) – the then City regulator – and in 2013, he asked to be stripped of his knighthood and gave up 30% of its £580,000 a year pension after the parliamentary commission on banking standards’ damning verdict on the management of the bank. He said he was “deeply sorry for what happened at HBOS.”
The only ever chairman of HBOS, holding the position from when it was formed from the merger of Halifax and Bank of Scotland in 2001. Currently chairs two charities, Inter Mediate which was set up by Tony Blair’s former chief of staff Jonathan Powell to negotiate in conflict zones, and MQ, which supports research into mental health.
Former head of retail bank, he took over as chief executive from Crosby. He is now the chief operating officer of the gambling firm Gala Coral, the gambling business. He received statutory redundancy of £2,970; but because of a “change of control” clause in his contract also delivered another £251,000. Based on 2008 valuations, he has a pension worth £270,000 a year at retirement age.
Former head of the commercial banking arm, Cummings accused the FSA of “tokenism at its most sinister” when he was banned from working in the City and fined £500,000 in September 2012. His pension is worth £369,000 a year. He received a £702,000 payment as a result of the Lloyds deal and £129,000 through the change of control clause but waived a £1.3m bonus.
Ran the Treasury operations at HBOS. He is now the chief executive at Alpha Bank.
Head of HBOS insurance and investment business at the Lloyds takeover. She remained at the enlarged Lloyds Banking Group until February 2010. Accrued a £100,000 a year pension.
Along with Dawson, Watson was one of the two members of the HBOS board at the time of the takeover to be offered a job by Lloyds. When he left in February 2010 he had a senior role in the investment business.
Chief operating officer at the time of the takeover, after joining the bank in September 2007. He remained as integration director for three months. According to his profile on LinkedIn he is also involved in the Ras al-Khaimah free trade zone, which helps companies set up in the United Arab Emirates.
Retired from the HBOS board on 30 April 2008, before the takeover. Has been a non-executive director of BT since February 2006.
Retired from HBOS at the end of 2004 but rejoined in September 2007, becoming finance director in January 2008. Since June 2011 he has been chairman of Skipton building society. He received £670,500 in redundancy payments and £83,000 from the change of control clause.