LONDON (Reuters) - The former chief executive of bailed-out British lender HBOS, one of three executives severely criticised in a scathing report into the bank's collapse, has resigned as an advisor to private equity firm Bridgepoint.
"Following discussion with Sir James he has resigned from the advisory board this morning," Bridgepoint said in a statement on Friday.
The Parliamentary Commission on Banking Standards, tasked with finding ways to reform UK banks, said in its report the primary responsibility for HBOS' failure in 2008 lay with Dennis Stevenson, chairman from the formation of HBOS in 2001 until its collapse, and former CEOs Crosby and Andy Hornby.
"The Commission has asked the regulator to consider whether these individuals should be barred from undertaking any future role in the sector," Commission chairman Andrew Tyrie said in the report.
Crosby joined London-based Bridgepoint's European advisory committee in August 2006.
(Reporting by Tommy Wilkes. Editing by Matt Scuffham)
Source: http://news.yahoo.com/ex-hbos-ceo-crosby-resigns-bridgepoint-advisor-095829053--sector.html
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