HBOS has announced a top-level shake-up that will see chief operating
officer Andy Hornby becoming chief executive later this year.
Hornby will replace outgoing CEO James Crosby on July 31. Additionally,
HBOS has poached Royal Bank of Scotland head of retail banking Benny Higgins
to lead HBOS retail businesses.
HBOS chairman Dennis Stevenson said: “James has had a major impact at HBOS.
Under his leadership, the size and reach of the group has been transformed.
In the process, we have delivered very strong financial numbers and shaken
up UK banking.
Andy is the outstanding candidate to succeed James. His track record, which
the board has followed from close quarters over a lengthy period of time, is
second to none.”
Crosby added: “After more than seven years as CEO, I believe the time is
right for someone else to take the company forward. In appointing Andy, the
board has chosen the best person for the job.”