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Crosby joined the Halifax bank in 1994 as Managing Director of Halifax Life. [8] Five years later, he became the chief executive of Halifax plc, replacing Mike Blackburn, and in 2001 Crosby became the first chief executive of the newly formed HBOS Group after overseeing the merger between Halifax plc and the Bank of Scotland. [9]
On 1 November 1999, he joined the Halifax as chief executive of Halifax Retail. In September 2001, the bank merged with the Bank of Scotland. He became chief executive of the Retail Division of HBOS plc. He became chief operating officer (COO) in July 2005, [29] then CEO in July 2006, taking over from James Crosby. In September 2008 he was ...
Halifax (previously known as Halifax Building Society and colloquially known as The Halifax) is a British banking brand operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group. It is named after the town of Halifax, West Yorkshire, where it was founded as a building society in 1853.
In 1993, Blackburn was named as the CEO of the Halifax Building Society. [6] [7] His tenure at Halifax was marked by involvement in legal disputes, including a notable case against the UK government and the European Court of Justice concerning financial issues. [3] In 1999, Blackburn left Halifax and was succeeded by James Crosby.
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Paul Russell Moore (30 October 1958 – September 28, 2020) [1] was best known as the HBOS whistleblower following his dismissal from Halifax Bank of Scotland (HBOS) in 2004. . Moore was the bank's Head of Group Regulatory Risk and was fired from the role by HBOS Group Chief Executive Office James Crosby following his warnings to the Board about HBOS's risky sales strategi
The HBOS Group Reorganisation Act 2006 saw the transfer of Halifax plc and Capital Bank plc to the Bank of Scotland, which had by then become a registered public limited company, Bank of Scotland plc. Although officially HBOS was not an acronym of any specific words, it is widely presumed to stand for Halifax Bank of Scotland.
Black entered senior management at 25, and eventually became president and CEO. During his nine years as president, the company saw continuous expansion and record profits with the number of jobs in Halifax more than doubling to over 1200. By 2004 the company had 3,000 employees and $15 billion in assets under management.