James Crosby resigns from HBOS

Andy Hornby to take charge in July

Thursday 5 January 2006 at 16:00

James Crosby, chief executive of UK bank HBOS, has resigned. He will be replaced by Andy Hornby who was appointed chief operating officer six months ago.

A spokesman for HBOS said Crosby's resignation was "entirely his own decision and absolutely not a result of shareholder pressure."