Hubris: How HBOS Wrecked the Best Bank in Britain (45 page)

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Authors: Ray Perman,Alistair Darling

BOOK: Hubris: How HBOS Wrecked the Best Bank in Britain
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Former Rangers Football Club owner Sir David Murray introduced the Bank to Tom Hunter. The Bank also part-funded several of his property deals.

 

Entrepreneur Tom Hunter took his first big deal to Bank of Scotland, but later the Bank began to approach him with invitations to participate or lead deals which
they would fund. (Scotsman Publications)

 

Graeme Shankland was one of Cumming’s key lieutenants. He lead on the Arcadia purchase, and after the collapse of the Bank helped to recover value from
some of the HBOS deals.

 

Andy Hornby (front) initially thought he had put together a great deal with Lloyds’ chairman Sir Victor Blank (right), but as the real state of HBOS became
more apparent the value received by shareholders was progressively reduced. (Press Association)

 

Hornby’s negotiations with Lloyds’ chief executive Eric Daniels (right) were heated and dragged on into the early hours before agreement was reached.
Both men were fooling themselves about the deal, but neither yet realised it. (Press Association)

 

Sir James Crosby resigned as deputy chair of the Financial Services Authority after Paul Moore, the former head of regulatory risk at HBOS, gave evidence to the
House of Commons Treasury Committee. (Press Association)

 

Lord Stevenson, former HBOS chair, claimed in evidence to the Treasury Committee that the closure of wholesale markets was the principal reason for the collapse
of the Bank. (Press Association)

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