Ex-HBOS head defended by new employer

Tim Wallace
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BETTING firm Coral yesterday defended its chief executive Andy Hornby against attacks based on his time at failed bank HBOS.

The Parliamentary Commission on Banking Standards last week blasted three former HBOS heads for “catastrophic failures” at the lender.

As a result business secretary Vince Cable is looking at banning them from holding directorships.

“Our position has not changed. He has the board’s full backing at the firm. We are delighted to have him here,” said a Coral spokesperson.

Meanwhile the Financial Conduct Authority said there is no conflict of interest arising from former KPMG head John Griffith-Jones being appointed as its chairman.

KPMG could face an inquiry over its role as previous auditor of HBOS.

Following calls for HBOS’s former chief exec Sir James Crosby to be stripped of his knighthood, David Cameron’s office said yesterday: 

“The Prime Minister’s very clear view is that it is a matter for the Forfeiture Committee.”