James Crosby

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Sir James Crosby is the former Chief Executive of the HBOS who was knighted and made deputy chairman of City watchdog, the Financial Services Authority by Gordon Brown. He is described as an ally of Brown.

He was forced to resign from the FSA on 11 February 2009 following revelations that he fired a whistleblower who warned of dangerous lending practices at HBOS.[1]

Career History

Born in 1956, Crosby joined Scottish Amicable in 1977 and spent 10 years there in various capacities. He then "led the establishment of the joint venture with J Rothschild Assurance (1991)"[1] and was Director there until 1994. He joined Halifax Building Society as Managing Director of Halifax Life in 1994 and became Financial Services and Insurance Director of Halifax plc in 1996. On 1 January 1999 James was appointed Chief Executive of Halifax[2] and also became a Director of St James's Place Capital plc in June 2000. In September 2001, following the merger of Bank of Scotland and Halifax, James became Chief Executive of HBOS plc. James is a Non-executive director of ITV plc and the Financial Services Authority. James is a Fellow of the Faculty of Actuaries. He was replaced by Andy Hornby at Halifax, effective 31st July 2007[3].


  1. [http://www.guardian.co.uk/business/2009/feb/11/banking-hbos Sir James Crosby resigns from FSA], Guardian, 11 Feb 2009
  1. ^HBOSplc Annual Report and Accounts 2002
  2. ^Financial Services Authority 2007 James Crosby
  3. ^The Scotsman, Jan 6, 2006, U.K., BUSINESS; Hornby to succeed Crosby at HBOS Helm, Martin Flanagan, retrieved 27 July 2007 from http://thescotsman.scotsman.com/business.cfm?id=21712006