Sir James Crosby, the former chief executive of HBOS who is allegedly the architect of its collapse, has quit as adviser to private equity firm Bridgepoint.
Crosby's resignation came after the parliamentary commission on banking standards asked that Crosby, his successor Andy Hornby, and Lord Stevenson, the bank's former chairman be banned from working in the city. The commission also asked Crosby and company to apologize for their "toxic" mistakes.
"The primary responsibility for the downfall of HBOS should rest with Sir James Crosby, architect of the strategy that set the course for disaster, with Andy Hornby, who proved unable or unwilling to change course, and Lord Stevenson, who presided over the bank's board from its birth to its death," the banking commission's report said.
Among Bridgepoint's investments are the Pret a Manger sandwich chain, fashion retailer Fat Face and care provider Care UK. Recently, it acquired control of Oasis Heathcare, the UK's largest dental chain
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