April 9, 2013 / 3:57 PM / 4 years ago

Ex-HBOS chief Crosby asks to be stripped of knighthood

LONDON, April 9 (Reuters) - Former HBOS chief executive James Crosby said he has asked for UK authorities to remove his knighthood and will forego 30 percent of his pension after being slammed for his role in the collapse of the British bank.

Crosby stepped down as HBOS CEO in 2006 and shortly after was awarded a knighthood, but the bank had to be bailed out by UK taxpayers in 2008.

"In view of what has happened subsequently to HBOS, I believe that it is right that I should now ask the appropriate authorities to take the necessary steps for its removal," he said in a statement on Tuesday.

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