'Boy Wonder's' farewell
Published Date:
14 October 2008
He was known as the "boy wonder" of British banking. But facing the humiliation of leading Halifax Bank of Scotland into Lloyds TSB's cut-price embrace, Andy Hornby had no alternative but to head for the exit.
The chief executive of the UK's biggest mortgage lender will leave, along with chairman Dennis Stevenson, when the takeover is completed early in the new year.
Mr Hornby is giving up his contractual entitlement of a year's salary of £940,000 and possible bonus, which was more than £700,000 last year.
"I'm sure his experience won't completely get lost", said one analyst. "He might not end up on the board of a UK bank in the near future but I'm sure there will be an organisation or two that might be prepared to take him on as a non-executive."
Mr Hornby, an Oxford and Harvard graduate, joined Halifax as chief executive in 1999, becoming chief executive of the merged HBOS bank in 2006. His retail experience includes a stint as MD of Asda supermarket's clothing business George.
The full article contains 198 words and appears in n/a newspaper.
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Last Updated:
14 October 2008 7:27 AM
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Source:
n/a
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Location:
Yorkshire
