Controversial bank boss in line for new role

Jun 8 2009 by Peter McCusker, The Journal

THE boss in charge of HBOS at the time of the bank’s near-collapse last autumn is in the running to become chief executive of high street giant Alliance Boots, it has been confirmed.

Andy Hornby is among several candidates for the post, with a decision expected shortly, the company said.

Mr Hornby was at the helm of the bank for more than two years but left HBOS following its rescue takeover by Lloyds TSB, waiving his entitlement to a £1m pay-off.

He admitted to MPs earlier this year that HBOS had been more vulnerable because of its reliance on wholesale money markets, which convulsed in the wake of Lehman Brothers’ collapse last autumn.