Hubris: How HBOS Wrecked the Best Bank in Britain

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9781780270517: Hubris: How HBOS Wrecked the Best Bank in Britain

Based on documents and dozens of interviews with insiders, this account follows the Bank of Scotland’s journey from being the bank of choice for the high-rolling Monte Carlo megarich to losing 10 billion pounds. In 1995, the Bank of Scotland celebrated 300 years as Britain’s oldest commercial bank; it was lauded as the “most admired bank,” respected by competitors, applauded by investors, and trusted by customers. Less than 15 years later—reviled as part of the spectacular collapse of HBOS, the conglomerate it had joined—the Bank of Scotland became one of the high-profile victims of the credit crunch and its spectacular fall caused seismic shock waves throughout the financial world. In this complex world of modern global finance, this is book serves as a cautionary tale.

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About the Author:

Ray Perman is a former journalist with more than 30 years of experience. He is the cofounder of the business magazine Insider Publications, the former chief executive of Scottish Financial Enterprise, and the chairman of the James Hutton Institute—the first institute of its type in Europe dedicated to making new contributions to the understanding of key global issues such as food, energy, and environmental security. He is the author of The Man Who Gave Away His Island: A Life of John Lorne Campbell of Canna. Alistair Darling is a Scottish Labour Party politician who has been a member of Parliament since 1987. He served as the chancellor of the exchequer from 2007 to 2010.

Review:

'We are indebted to Ray Perman for giving us a powerful lesson on what happens when you usurp the wisdom of a banking culture acquired over centuries for the pursuit of market share and profit at all and any cost' - The Scotsman '...as a document of the long and short-term causes of one of British banking's lowest moments, Perman's book more than delivers. Its balanced treatment of the major players involved should be required reading for anyone wondering where to position the likes of Hornby in the credit crunch Hall of Shame,' Breaking Views 'an engaging account of HBOS's downfall' - Financial Times '[An] admirably lucid account' - Independent on Sunday

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Book Description Hardcover. Book Condition: New. Hardcover. In 1995 Bank of Scotland celebrated 300 years as Britain's oldest commercial bank. Voted 'most admired bank', respected by competitors, applauded by investors and trusted by customers, it .Shipping may be from multiple locations in the US or from the UK, depending on stock availability. 256 pages. 0.574. Bookseller Inventory # 9781780270517

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