Showing posts with label HBOS. Show all posts
Showing posts with label HBOS. Show all posts
Sunday, 19 July 2009
Surveillance...
Former HBOS boss, Sir James Crosby, about to enter the Mound Stand boxes at Lord's today - still with that daft haircut of his.
Thursday, 19 March 2009
University provides none of the answers
Last year, Bradford University scored a significant triumph by awarding an honorary doctorate to former HBOS chief exec Sir James Crosby for his services to (wait for it) financial services.
Sir James's role in the credit crisis came early (but was undoubtedly significant) as it was he who developed HBOS's increasingly aggressive strategy - before ignoring the numerous warnings of his head of risk, Paul Moore, and then whacking the whistleblower.
So, I wonder, now this has all been aired in front of the Treasury Select Committee and Sir James has resigned as deputy chairman of the FSA, has anybody at Bradford considered asking for that ridiculous gong back?
My enquiries along this line fail to gain a response in February and it is only when I send another email asking if I'm being ignored that I finally get an answer (of sorts).
One Adrian Pearce in the Bradford press office sniffs: "I note the content of your recent email to the University. It is not University policy to discuss the status of any of our graduates, including honorary graduates."
Which seems slightly disingenuous. Bradford University was more than happy to discuss the status of Sir James, when pushing out a press release on his award back in November.
Sir James's role in the credit crisis came early (but was undoubtedly significant) as it was he who developed HBOS's increasingly aggressive strategy - before ignoring the numerous warnings of his head of risk, Paul Moore, and then whacking the whistleblower.
So, I wonder, now this has all been aired in front of the Treasury Select Committee and Sir James has resigned as deputy chairman of the FSA, has anybody at Bradford considered asking for that ridiculous gong back?
My enquiries along this line fail to gain a response in February and it is only when I send another email asking if I'm being ignored that I finally get an answer (of sorts).
One Adrian Pearce in the Bradford press office sniffs: "I note the content of your recent email to the University. It is not University policy to discuss the status of any of our graduates, including honorary graduates."
Which seems slightly disingenuous. Bradford University was more than happy to discuss the status of Sir James, when pushing out a press release on his award back in November.
Wednesday, 11 March 2009
Greenburgh shoots to the top of worst banker poll
Just who is the charmless banker under attack in the Evening Standard?
While I can't be sure - and several candidates suggest themselves - the clever money is on Matthew Greenburgh at Merrill Lynch.
Greenburgh himself is the opposite of clever money, having advised Sir Fred on ABN Amro and Eric Daniels on HBOS.
That makes him a candidate for my worst investment banker in the world gong. He is, in effect, a tax on the rest of us.
While I can't be sure - and several candidates suggest themselves - the clever money is on Matthew Greenburgh at Merrill Lynch.
Greenburgh himself is the opposite of clever money, having advised Sir Fred on ABN Amro and Eric Daniels on HBOS.
That makes him a candidate for my worst investment banker in the world gong. He is, in effect, a tax on the rest of us.
Friday, 13 February 2009
The way they were...
Financier of the Year 2001 - Peter Cummings, Managing Director of Corporate Banking was awarded 'Financier of the Year' by the Corporate Finance Faculty of the Institute of Chartered Accountants, England & Wales. He is also a nominee for 'Dealmaker of the Year' awarded by Insider Group in Sept 2001.
Footnote: That was as good as it got. Lloyds now expects to suffer £7bn of impairment charges on corporate loans made by its new subsidiary HBOS that went sour, a turn that seems to be being blamed on poor Peter, an HBOS veteran who left the company in January after going from sweeping the floor to running a £109bn loan book.
Footnote: That was as good as it got. Lloyds now expects to suffer £7bn of impairment charges on corporate loans made by its new subsidiary HBOS that went sour, a turn that seems to be being blamed on poor Peter, an HBOS veteran who left the company in January after going from sweeping the floor to running a £109bn loan book.
Thursday, 12 February 2009
Arcane row leads the news agenda for days
As the repercussions of Paul Moore's whistle blowing to the Treasury Select Committee continue to lead the news agenda (i.e., Sir James Crosby resigning from the FSA etc etc), it is good to see Guardian business supremo, Dan Roberts, calling the mood so perfectly.
His 11.37am entry, on his live blog covering the hearing, reads: "They've now wasted best part of half an hour on an arcane row about a supposed whistleblower at HBOS. I wish we could get back to the meat. Fred Goodwin is about to walk off into the sunset any minute now."
D'oh!
His 11.37am entry, on his live blog covering the hearing, reads: "They've now wasted best part of half an hour on an arcane row about a supposed whistleblower at HBOS. I wish we could get back to the meat. Fred Goodwin is about to walk off into the sunset any minute now."
D'oh!
Tuesday, 10 February 2009
Moore's the pity
Also spotted at the Treasury Select Committee this morning was lefty comedian, Mark Thomas.
Thomas was there to hear how HBOS's former head of risk, Paul Moore, had submitted written evidence revealing how he'd informed the Board of concerns about their approach to banking, only to be "summarily dismissed".
Moore was whacked by former HBOS chief, Sir James Crosby, who (coincidentally) has something in common with Thomas.
In November, both Sir James and Thomas simultaneously received nominal mortar boards from Bradford University - a story which the Bradford Telegraph & Argus reported under the headline Comedian to get honorary degree.
That heading was a reference to Thomas. Possibly.
Sideline: is Thomas planning a television series on the financial crisis?
Update: For a hard copy of SlackBelly's stories (only published a day later) please buy a copy of The Times and read their City Diary.
Thomas was there to hear how HBOS's former head of risk, Paul Moore, had submitted written evidence revealing how he'd informed the Board of concerns about their approach to banking, only to be "summarily dismissed".
Moore was whacked by former HBOS chief, Sir James Crosby, who (coincidentally) has something in common with Thomas.
In November, both Sir James and Thomas simultaneously received nominal mortar boards from Bradford University - a story which the Bradford Telegraph & Argus reported under the headline Comedian to get honorary degree.
That heading was a reference to Thomas. Possibly.
Sideline: is Thomas planning a television series on the financial crisis?
Update: For a hard copy of SlackBelly's stories (only published a day later) please buy a copy of The Times and read their City Diary.
Stevenson needs Xtra help with banking definition
To the Treasury Select Committee where former HBOS chairman, Lord Stevenson, was trying desperately to demonstrate that he knows everything there is to know about banking.
Those efforts weren't helped, however, when Committee chairman, John McFall, read out the Oxford English Dictionary definition of a bank. Is that accurate, he asked?
"Could you read it out again?" stuttered Stevenson.
Excellent work, My Lord.
Those efforts weren't helped, however, when Committee chairman, John McFall, read out the Oxford English Dictionary definition of a bank. Is that accurate, he asked?
"Could you read it out again?" stuttered Stevenson.
Excellent work, My Lord.
Monday, 8 December 2008
History written by the losers
Andy Hedley Hornby, the boss of failed bank HBOS, is so famous that he has an entry on Wikipedia. That's the free online encyclopedia that is written by volunteers and is the starting (only?) point of reference for many an internet researcher. So, predictably, the authors of the Hornby page have been pretty busy lately keeping everything up to date.
Among the numerous changes recently deemed necessary to the former Asda exec's tale include the axing of a reference to Hornby considering a return to "greengrocering"; the addition of the words "agreed to" in a description of HBOS being taken over by Lloyds TSB; and the introduction of another line about Hornby staying on as "a consultant to the Lloyds Banking Group for a fee of £60,000 per month" as soon as the takeover is completed.
All of these changes have been made from IP addresses emanating from one company. Its name? HBOS.
Among the numerous changes recently deemed necessary to the former Asda exec's tale include the axing of a reference to Hornby considering a return to "greengrocering"; the addition of the words "agreed to" in a description of HBOS being taken over by Lloyds TSB; and the introduction of another line about Hornby staying on as "a consultant to the Lloyds Banking Group for a fee of £60,000 per month" as soon as the takeover is completed.
All of these changes have been made from IP addresses emanating from one company. Its name? HBOS.
Saturday, 29 November 2008
Is there a(nother) doctor in the house?
I am delighted to hear that the stars of the UK credit crisis still refuse to be hampered by their roles in the collapses of their respective banks.
First, Sir Derek Wanless, erstwhile chairman of Northern Rock's Audit and Risk committees, accepted an honorary degree from Coventry University (Lanchester Poly as was). And now I learn that former HBOS chief, Sir James Crosby - the visionary credited with switching the bank's focus from risk management to growth, as well as the man who hand-picked his own successor, Andy Hornby - is to collect another of these pointless (and vain) gongs.
Sir James will be made an honorary doctor of Bradford University for his "contribution to financial services and, in particular, in recognition of his achievements as chief executive of Halifax, then HBOS, and currently his board membership of the FSA," the Bradford Telegraph & Argus reports.
The paper's story appears under the headline Comedian to get honorary degree - a reference to a simultaneous award to funnyman, Mark Thomas. Probably.
First, Sir Derek Wanless, erstwhile chairman of Northern Rock's Audit and Risk committees, accepted an honorary degree from Coventry University (Lanchester Poly as was). And now I learn that former HBOS chief, Sir James Crosby - the visionary credited with switching the bank's focus from risk management to growth, as well as the man who hand-picked his own successor, Andy Hornby - is to collect another of these pointless (and vain) gongs.
Sir James will be made an honorary doctor of Bradford University for his "contribution to financial services and, in particular, in recognition of his achievements as chief executive of Halifax, then HBOS, and currently his board membership of the FSA," the Bradford Telegraph & Argus reports.
The paper's story appears under the headline Comedian to get honorary degree - a reference to a simultaneous award to funnyman, Mark Thomas. Probably.
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