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The Guardian - UK
The Guardian - UK
Business

Troubled bankers: who's been axed and who's in danger?

Bankers under pressure: Victor Blank the CEO of Lloyds TSB
Sir Victor Blank, City grandee and friend of Gordon Brown, has paid the price for masterminding the disastrous merger of Lloyds and HBOS by quitting the chairmanship of Lloyds Banking Group. Blank is leaving after losing the confidence of major shareholders. Had he not resigned, he faced the prospect of a damning protest vote at next month’s annual meeting - with investors furious over the dire state of HBOS’s balance sheet. Photograph: Sarah Lee
Bankers under pressure: Eric Daniels of Lloyds TSB
Blank’s departure leaves chief executive Eric Daniels in a sticky position. He is also the target of shareholder anger, after admitting that Lloyds didn’t carry out detailed due diligence before stepping in to buy HBOS last autumn. Analysts point out that the Treasury did not act to save Blank, even though the government was desperate for the deal to go through. Will a new chairman want a new chief executive?... Photograph: Sarah Lee
Bankers under pressure: Sir Fred Goodwin
The public image of the failed banker. Sir Fred Goodwin has gone to ground since taking early retirement from Royal Bank of Scotland last autumn. The row over his huge pension pot has rumbled on since February, with City minister Lord Myners blamed for not forcing RBS to fire Sir Fred. Windows at his Edinburgh home were smashed in March, and the former banker has also seen his application to join the prestigious St Andrews golf club rejected. Photograph: Murdo Macleod
Bankers under pressure: Sir Tom McKillop
Sir Tom McKillop also carried the can for RBS’s lurch into public ownership, quitting as chairman in February. He then faced the anger of MPs at a select committee hearing, where he admitted that the acquisition of ABN Amro was a huge mistake. McKillop was later forced to resign from the board of BP, after it became clear that some of the oil giant’s shareholders were prepared to block his reappointment as a non-executive director. Photograph: Danny Lawson/PA
Bankers under pressure: Andy Hornby
The boy wonder of British banking, Andy Hornby's career shuddered to a halt after a swath of bad debts proved HBOS’s undoing. The 42-year old former Asda executive waived his right to a payoff following Lloyds’ rescue merger, and later ended a role as a £60,000-a-month consultant after the deal came to light. Photograph: Sarah Lee
Bankers under pressure: Former chairman of HBOS Lord Dennis Stevenson at the Treasury Committee
Little has been seen of former HBOS chairman Lord Stevenson since he joined Hornby, Goodwin and McKillop in front of the Treasury select committee. Lloyds could find no place for Stevenson, or any other senior HBOS executives, on the board of the new group. Photograph: PA/BBC
Sir James Crosby
Sir James Crosby wasn’t even running a bank when the financial crisis exploded. But Stevenson’s precessor as HBOS chair was forced to quit as deputy chairman of the Financial Services Authority after a whistleblower claimed he had been fired by Crosby for warning that the bank was making dangerous loans. Photograph: David Levene/Guardian
Bankers under pressure: British bank Barclays chairman Marcus Agius
Despite avoiding nationalisation, Marcus Agius received a bloody nose from shareholders at the end of April, with one-in-six voting against his reappointment as Barclays' chairman. They are livid that he raised £7bn from Middle East investors, on very generous terms, to repair its balance sheet. The revolt against Agius, a former investment banker at Lazard, would have been larger had it not been for the recent surge in Barclays’ share price. But despite insisting that “we remain in charge of our own destiny”, Agius himself could under fire again if Barclays stumbles Photograph: Pierre Verdy/AFP
Bankers under pressure: John Varley , formerly of barclays
With Barclays reporting a rise in profits so far this year, chief executive John Varley’s decision to avoid taking help from the UK government appears to be justified. But he now faces a tough decision - whether to sell its Barclays Global Investors arm for perhaps $10bn. The asset management division has been a solid performer, but a sale could give Barclays’ capital reserves a major boost - but also make it more reliant on earnings from its investment banking arm..... Photograph: /Vismedia
Bankers under pressure: HSBC  former Chairman Stephen Green
For a while, HSBC could rise above the turmoil in the rest of the banking sector. But the disastrous performance of its household international division has forced the bank to launch the UK’s biggest rights issue. Even though chairman Stephen Green was not responsible for the purchase of the sub-prime lender, his refusal to sell the division has infuriated shareholders Photograph: Michael Caronna/Reuters
Bankers under pressure: HSBC former Group Chief Executive Michael Geoghegan l
HSBC chief executive Michael Geoghegan has also been tarnished by the household international division fiasco. In March, he waived his rights to a bonus, a decision that could have cost him more than £1m but which also deflected criticism. Photograph: Ben Stansall/AFP
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