KPMG in firing-line for bank collapse
Public anger has shifted after former HBOS chief Sir James Crosby offered to give up his knighthood over the banks collapse, with the focus now shifting to auditors KPMG.
The man who headed KPMG at the time is now boss of the City watchdog the Financial Conduct Authority (FCA). Shareholder action group Pirc has written to the Financial Times, asking that John Griffith-Jones step down from the FCA while KPMG's role is probed.
HBOS collapsed during the financial crisis and had to be rescued by Lloyds, which itself then needed a £20bn rescue from taxpayers.
The renewed search for individuals to blame for its downfall follows a damning report last week from the Parliamentary Commission on Banking Standards, in which the bank's two leading executives and its chairman, Lord Stevenson, were severely criticised.
In its wake Sir James was asked to resign his post as adviser at the private equity firm, Bridgewater.
Sir James has said he was "deeply sorry" for what happened at HBOS. He has attempted to make amends by resigning as independent director of the giant catering firm, Compass Group, offering to forgo around a third of his £580,000 annual pension and give up his knighthood.
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