James Crosby formally stripped of knighthood

THE FORMER boss of HBOS James Crosby has been officially stripped of his knighthood, two months after handing it back following a Parliamentary report in which he was criticised for his leadership of HBOS in the lead up to the financial crisis. Crosby was HBOS chief executive from 2001 to 2006 and was accused of being the “architect” of its demise in the damning report.