[[Farepak]] was a Christmas savings club operated by [[European Home Retail]], which collapsed in December 2006 after adminstrators were called in when [[HBOS Plc]] decided not to extend the overdraft facility to European Home Retail {{ref|1}}. By rejecting various options that may have enabled Farepak to continue trading, HBOS in effect caused more than 105,000 families, mainly on low incomes to lose on average £400 just weeks before Christmas, though some lost as much as £2000 {{ref|2}}.

The public response to the collapse and the reaction of the media and politicians was to place much of responsibility at HBOS's door . The public response would lead to highprofile and embarrassing protests outside the Banks newly re-opened head office building on the Mound in Edinburgh{{ref|3}}.

As a reaction to the increasing negative coverage of the Bank, and the threats some high-value bank account holders were making to move their accounts elsewhere {{ref|4}}, HBOS decided to make £2 million donation to the [[Family Fund]], set up to help victims of the collapsed firm {{ref|5}}. Though within the company it was felt that such a move was unneccessary {{ref|6}} and after the donation was made, the company declared:

:Our moral obligation, we believe, is to our customer, shareholders and, where appropraite, the wider community. We have more than discharged that obligation {{ref|7}}.

== Notes ==

# {{note|1}} Guardian Unlimited (2006) [http://money.guardian.co.uk/consumernews/story/0,,1941646,00.htm Farepak Explained 08/11/06]. Last accessed 15/04/07
# {{note|2}} BBC News (2006) [http://news.bbc.co.uk.co.uk/1/hi/business/6124406.stm The Farepak Collapse]. Last accessed 10/04/07
# {{note|3}} Howarth, A. (2006) [http://news.scotsman.com/topics.cfm?tid=1526&id=1741262006 Straw says bank owes 'moral' debt to Farepak victims]. In The Scotsman 12/11/06. Last accessed 20/04/07
# {{note|4}} Holyrood Magazine 29/11/06 [http://www.holyrood.com/nav/news/stories/story.asp?story=bus169 Tarnished reputation for bank in Farepak scandal]. Last accessed 20/04/07
# {{note|5}} Mesure, S. (2006) [http://findarticles.com/p/articles/mi_qn4158/is_20061109/ai_n16828264 Farepak banker HBOS pays £2m into fund]. In The Independent 09/11/06. Last accessed 20/04/07
# {{note|6}} Carrell, S. & Smithers, R. (2006) [http://business.guardian.co.uk/story/0,,1960287,00.html Bank faces boycott over role in Farepak collapse]. In The Guardian 30/11/06
# {{note|7}} Womak, S. (2006) [http://www.thisismoney.co.uk/news/article.html?in_article_id=415758&in_page_id=2 HBOS attacks Farepak savers]. In Mail on Sunday 18/12/06. Last accessed 20/04/07

Farepak

2007-04-20T13:08:54Z

Fraser Stewart:

2007-04-11T07:52:34Z

Fraser Stewart:

[[Image:Shane O\'Riordain Pic.jpg|right|thumb|Shane O'Riordain]]

[[Shane O'Riordain]], General Manager Group Communications at [[HBoS]] is usually the public face of the corporation, particularly when the corporation is dealing with the more controversial media stories it is involved in, for example:

In 2004, HBoS came under attack for its involvement in the investment of a pornographic magazine, it was O'Riordain who dealt with the media, who was quoted as saying:

:"We recognise this decision may have caused offence and embarrassment. We have to recognise that there are many different points of view among our stakeholders"{{ref|1}}

In 2006, when HBoS faced criticism for its involvement in the [[Farepak]] Christmas club collapse, Riordain was quoted as saying:

:"Our moral obligation, we believe, is to our customers, shareholders and, where appropriate, the wider community. We have more than discharged that obligation"{{ref|2}}

In 2007, HBoS came underfire for the loss of paper documents containing confidential information on some 13,000 of its mortgage customers have been stolen from an employee's car. Once again it was O'Riordain, as the boss of corporate communications that needed to deal with the media fall-out, and who was quoted as saying that lessons had been learnt from the experience, but nevertheless:

:"It is almost impossible to use the stolen customer information for fraudulent purposes, no customer will lose out in the very unlikely event of fraudulent activity on their account following this incident"{{ref|3}}

== Notes ==

#{{note|1}}Dow, J. (2004) [http://thescotsman.scotsman.com/index.cfm?id=329432004 Bank of Scotland says sorry over porn deal funding], accessed 11/04/07
#{{note|2}}Womak, S. (2006) Farepak bank: be more grateful. In Financial Mail on Sunday; London. 12/12/06
#{{note|3}}finextra.com (2007) [http://www.finextra.com/fullstory.asp?id=16717 Halifax Customer Data Stolen], accessed 11/04/07

File:Shane O\'Riordain Pic.jpg

2007-04-11T07:51:42Z

Fraser Stewart: Shane O'Riordain

Shane O'Riordain

2007-04-11T07:50:00Z

Fraser Stewart:

[[Image:Shane O'Riordain Pic.jpg|right|thumb|Shane O'Riordain]]

[[Shane O'Riordain]], General Manager Group Communications at [[HBoS]] is usually the public face of the corporation, particularly when the corporation is dealing with the more controversial media stories it is involved in, for example:

In 2004, HBoS came under attack for its involvement in the investment of a pornographic magazine, it was O'Riordain who dealt with the media, who was quoted as saying:

:"We recognise this decision may have caused offence and embarrassment. We have to recognise that there are many different points of view among our stakeholders"{{ref|1}}

In 2006, when HBoS faced criticism for its involvement in the [[Farepak]] Christmas club collapse, Riordain was quoted as saying:

:"Our moral obligation, we believe, is to our customers, shareholders and, where appropriate, the wider community. We have more than discharged that obligation"{{ref|2}}

In 2007, HBoS came underfire for the loss of paper documents containing confidential information on some 13,000 of its mortgage customers have been stolen from an employee's car. Once again it was O'Riordain, as the boss of corporate communications that needed to deal with the media fall-out, and who was quoted as saying that lessons had been learnt from the experience, but nevertheless:

:"It is almost impossible to use the stolen customer information for fraudulent purposes, no customer will lose out in the very unlikely event of fraudulent activity on their account following this incident"{{ref|3}}

== Notes ==

#{{note|1}}Dow, J. (2004) [http://thescotsman.scotsman.com/index.cfm?id=329432004 Bank of Scotland says sorry over porn deal funding], accessed 11/04/07
#{{note|2}}Womak, S. (2006) Farepak bank: be more grateful. In Financial Mail on Sunday; London. 12/12/06
#{{note|3}}finextra.com (2007) [http://www.finextra.com/fullstory.asp?id=16717 Halifax Customer Data Stolen], accessed 11/04/07

Shane O'Riordain

2007-04-11T07:44:59Z

Fraser Stewart:

[[Shane O'Riordain]], General Manager Group Communications at [[HBoS]] is usually the public face of the corporation, particularly when the corporation is dealing with the more controversial media stories it is involved in, for example:

In 2004, HBoS came under attack for its involvement in the investment of a pornographic magazine, it was O'Riordain who dealt with the media, who was quoted as saying:

:"We recognise this decision may have caused offence and embarrassment. We have to recognise that there are many different points of view among our stakeholders"{{ref|1}}

In 2006, when HBoS faced criticism for its involvement in the [[Farepak]] Christmas club collapse, Riordain was quoted as saying:

:"Our moral obligation, we believe, is to our customers, shareholders and, where appropriate, the wider community. We have more than discharged that obligation"{{ref|2}}

In 2007, HBoS came underfire for the loss of paper documents containing confidential information on some 13,000 of its mortgage customers have been stolen from an employee's car. Once again it was O'Riordain, as the boss of corporate communications that needed to deal with the media fall-out, and who was quoted as saying that lessons had been learnt from the experience, but nevertheless:

:"It is almost impossible to use the stolen customer information for fraudulent purposes, no customer will lose out in the very unlikely event of fraudulent activity on their account following this incident"{{ref|3}}

== Notes ==

#{{note|1}}Dow, J. (2004) [http://thescotsman.scotsman.com/index.cfm?id=329432004 Bank of Scotland says sorry over porn deal funding], accessed 11/04/07
#{{note|2}}Womak, S. (2006) Farepak bank: be more grateful. In Financial Mail on Sunday; London. 12/12/06
#{{note|3}}finextra.com (2007) [http://www.finextra.com/fullstory.asp?id=16717 Halifax Customer Data Stolen], accessed 11/04/07

Dan Watkins

2007-04-06T10:43:21Z

Fraser Stewart:

[[Dan Watkins]] graduated from Oxford in 1985 with a degree in Politics, Philosophy and Economics and worked for [[Morgan Grenfell]] before joining [[Birmingham Midshires]] in 1993 where he worked in risk management before becoming Treasurer in 1996.

After a number of senior roles within Birmingham Midshires, he became Managing Director in September 2001 and joined the Retail board. He led Birmingham Midshires through a period of significant change and growth, as it became part of the [[HBOS]] group.

In January 2005 he became Head of Retail Risk and was appointed to the position of Group Risk Director, becoming a member of the Executive Committee, in March 2006.

He is married with two children and lives in Shropshire {{ref|1}}.

==Notes==

#{{note|1}} [http://www.hbosplc.com/abouthbos/directors_biogs.asp About HBOS the Directors], accessed 06/04/07