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Categories:Politics,Regulation

Calls for Ex-Lloyds chairman to be stripped of knighthood

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A  Lloyds investor group has asked the head of the civil service to strip former Lloyds chairman Sir Victor Blank of his knighthood.

The Lloyds Action Now Association has written to ask for Blank’s case to be heard by the forfeiture committee, according to The Telegraph.

Earlier this week, former Royal Bank of Scotland chief executive Fred Goodwin was stripped of his knighthood after his firm needed a £43bn Government bail-out. Lloyds also needed a £21bn bailout while Blank was chairman at the height of the financial crisis.

Lloyds Action Now Association founder Jillian Timmis says: “It seems only right that others who have been honoured for services to the finance industry should be similarly censored when their actions have also led to the need of state funding to bail out erstwhile solvent concerns.”

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Readers' comments (5)

  • Lloyds only needed half the givernment backing of RBS, so perhaps the Government should allow him to use the title Sir in alernate years, and just take away a smaller proportion of his pension then they did with Fred Goodwin.

    This just shows what a nonsense the Honours system is. The practice of giving titles to business who are very well rewarded for what they do should stop. However, I cannot see this happening when all the major political parties are actively seeking financial contributions from businesses.

    The honours system should be reviewed and awards only made to people who have made a genuine contribution to society rather than to already highly rewarded business people.

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  • Those of us who live north of the border were not surprised by the downfall of Fred Goodwin and the blame being attached to him. We would be very surprised if a good Englishman like Sir Victor Blank lost his Knighthood, more likely he gets a life peerage and can sit beside the likes of Lord Archer.

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  • Spot on Jim
    It is all political clap trap.

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  • Forgive my ignorance, but I thought Lloyd's had been on sound footing, and only needed a bailout after it was forced by the government to merge with HBOS?

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  • I agree the problems at Lloyds arose due to it being forced to take over HBOS and therefore the blame should fall on the government at the time Blair and Brown, the 2 incompetents who were the CEO and CFO of GB plc at the time of the crisis. They should never be put up for any honours.

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