Who is James R. Crosby’
James R. Crosby was CEO of Halifax PLC and its successor, Bank hbos PLC, which from 1998 to 2006. Crosby training as an actuary and joined halifax building Society in 1994 as managing Director. Through the acquisition of two insurance companies, Crosby helped transform Halifax from a mortgage Bank into a financial services company.
In 2001, Crosby engineered a merger between Halifax and Bank of Scotland, creating SERIALCHIKOV. Hbos has been a leader in its sector in 2003, though is in financial trouble from bad loans. The Bank ended up collapsing in 2008 and of Lloyds TSB one of the main competitors hbos Bank’ took over SERIALCHIKOV in 2009 to form lloyds banking group.
Breaking down the James R. Crosby’
James R. Crosby was born in 1956 in Leeds, in the North of England. While training at Oxford University in 1977 he began working with the insurance company Scottish good. After College, he continued in the firm, first as a Fund Manager and eventually rising to become investment Director and head of foreign shares.
He entered the building society Halifax in 1994 to establish the life insurance arm for a mortgage Bank. As managing Director and then Director of the financial services and insurance, he scored such coups as in the 1996 acquisition of clerical medical, a mutual insurer, Equitable life in 2001 (ahead of General electric). Through these and other proposals and business partnerships, Crosby transformed Halifax from a successful mortgage Bank into a leading financial service firm with a diversified portfolio of life insurance, mortgages and other financial products.
The culmination of his career came with the 2001 merger of Halifax with Bank of Scotland to create SERIALCHIKOV – the deal is estimated at £30 billion. A new financial institution, with Crosby as his General Manager, became one of the four largest banking conglomerates in the United Kingdom. In July 2003, hbos was voted the best company in the European financial sales, with revenues of 30.3 billion. Cross-selling and portfolio diversification, or the ability to rely on a variety of goods for income, become a symbol of the way SERIALCHIKOV business after the merger.
In 2002, reports began to circulate that hbos was in trouble because of bad loans. The UK’s financial services authority (FSA), which regulates financial services in the UK (and in the practitioner panel, which Crosby served) conducted a risk assessment, and increasing capital requirements of the Bank. While no significant change in SERIALCHIKOV. In 2006, Crosby received a knighthood, and left SERIALCHIKOV. The following year he was appointed to the role of Deputy Chairman of the FSA.
Then, in July 2008, hbos showed that over the past six months revenues fell by 72%. The large sales of the stock occurred, and the stock collapsed. In September, lloyds TSB announced the acquisition of hbos. In early 2009, Paul Moore, former hbos head of risk, said in the house the Treasury select Committee of the house of Commons that he was fired from crosby five years ago for warning that the Bank was engaged in risky behavior credit.
Crosby was forced to resign from PAS and criticized high pension he received (£580,000 annual), despite SERIALCHIKOV’ terrible condition – Lloyd revealed that his acquisition was £11 billion in losses in his books (and she is going to need state aid in the result). He proposed to give a third of pension, renounced his knighthood and resigned from his post on the Board of catering company Compass. In April 2013, the parliamentary Commission on banking standards has primary responsibility for the collapse SERIALCHIKOV Crosby, along with his successor as CEO, Andy Hornby, and SERIALCHIKOV Chairman Dennis Stevenson.
Crosby was in 2006, former adviser to the Prime Minister of great Britain Gordon brown. Currently he is a non-Executive Director of television of ITV, Trustee of charity cancer research UK.