Peter Cummings, fined £500,000 for his purpose in a near-collapse of HBOS, also pronounced he was pressured to boost increase during his corporate lending multiplication to make adult for a slack on a sell slide.
Mr Cummings was in assign of a immeasurable portfolio of skill loans and private-equity deals that went badly badly during a financial crisis.
The 57-year-old Scot enjoyed a high form in a City, lending to a likes of Philip Green for his buyout of Top Shop and subsidy other entrepreneurs. His portfolio done adult a vast cube of a supposed non-core resources being sole off by Lloyds that took over HBOS in a Government-brokered rescue.
He described being targeted by a FSA as “bewildering”.
“We are not a only
Read full article: http://www.smh.com.au/business/markets/shares-snap-fourday-winning-streak-20121213-2batd.html
Source:
http://www.ezonearticle.com/2012/12/14/fined-hbos-boss-makes-his-protest-over-being-singled-out-business-news/
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