Where are they now? Life carries on for the banks’ directors

Board members are legally responsible for the behaviour of their company, yet many of those at the heart of the UK’s financial plight have continued to hold lucrative positions. Richard Northedge reports
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Despite the Financial Services Authority saying how it wants to hold non-executive directors accountable for failing to fulfil their duties, many part-timers continue to sit in other boardrooms – sometimes still in the finance industry..

Some of the banks’ ex-directors have roles in government agencies such as the Met Office, Scotland’s Council for Economic Advisers, and even HM Revenue & Customs.

No inquiry has yet been held to decide which directors were directly to blame for the collapse of so many of Britain’s banks, but the law regards all directors as equally responsible. But while some former executives struggle to find new jobs, there is little sign of the non-execs being shunned.

Bradford & Bingley

Michael Buckley (non-exec 2007-08). A director of Nicola Horlick’s Bramdean Alternatives and sits on the M&T Bank board in the US.

Ian Cheshire (n-x 2003-08). Chief executive of Kingfisher, the B&Q group.

Nick Cosh (n-x 1999-2008). Director of City brokers Icap.

Sir George Cox (2000-07). Commentator on the banking crisis and chairs Warwick Business School’s advisory board.

Rod Kent (n-x chairman 2002-08). A governor of Wellcome Trust and chairs the Duke of Westminster’s £13bn Grosvenor empire,

Lady Patten (n-x 2003-08). Sits on the Marks & Spencer board and chairs the Brixton property group.

Stephen Webster (n-x 2003-08). Finance director at Wolseley plumbing goods group.


Sir James Crosby (1994-2006). Is still senior independent director at ITV and the Compass catering group, and last month became a director of Mysis, the software company.

Charles Dunstone (n-x 2000-08). A director of Daily Mail & General Trust and the Prince’s Trust besides running Carphone Warehouse.

Mike Ellis (finance director 1987-2004, 07-09). Is now a WH Smith director.

Tony Hobson (n-x 2001-06). Chairs Northern Foods and is a director of water company Glas Cymru.

Philip Hodkinson (finance director 2005-08). Chairs the audit committees at BT and Travelex. Director of HM Revenue & Customs.

Andy Hornby (1999-2009). Remains a director of Home Retail, the Homebase and Argos chains.

Sir Brian Ivory (n-x 1998-2007). Director of Scottish American Investment Trust and Rémy Contreau.

Karen Jones (n-x 2006-09). The founder of Café Rouge recently joined the Virgin Active board.

Kate Nealon (n-x 2004-09). Sits on the Cable & Wireless and Shire drugs group boards.

David Shearer (n-x 2004-07). Senior independent director at STV and chairman of Crest Nicholson.

Lord Stevenson (chairman 1999-2009). Director of Western Union and Loudwater Investments.

Mark Tucker (finance director 2004-05). Returned to the Prudential, where he is chief executive.

Northern rock

David Baker (1973-2007). Chairs Northeast Enterprise Bond.

Sir Ian Gibson (n-x 2002-08). The former senior independent director chairs Trinity Mirror and the Wm Morrison supermarket group.

Michael McQueen (n-x 2005-08). Chief executive of the FTSE 100 private-equity group 3i.

Nichola Pease (n-x 1999-2007). Deputy chairman at JO Hambro Capital Management.

Matt Ridley (1996-2007 and chairman from 2004). Remains a governor of the Ditchley Foundation conference group with government ministers.

Sir George Russell (n-x 1996-2006). Deputy chairman of ITV and the veteran of boardrooms from 3i and Taylor Woodrow to Camelot.

Sir Derek Wanless (n-x 2000-07). Chaired credit and risk committees. Vice-chairman of Statistics Commission and chairs Northumbrian Water.

Royal Bank of Scotland

Colin Buchan (n-x 2002-). Remains an RBS director. His other boards include Standard Life and two Merrill Lynch trusts.

Jim Currie (n-x 2001-09). Director of Dutch aluminium group Vimetco plus the Met Office.

Larry Fish (1993-2008). Chairman of US Citizens Bank and director of Textron – the Cessna and Bell Helicopter group.

Sir Fred Goodwin (1998-2008). Chairman of the Prince’s Trust.

Archie Hunter (n-x 2004-). Audit committee chairman, still sits on the board and is director of Macfarlane Group and an investment trust.

Bud Koch (n-x 2004-09). A director of the federal Home Loan Bank of Cincinnati.

Janis Kong (n-x 2006-09). Director of Kingfisher, Portmeirion pottery, Visit Britain and chairs the Forum for the Future environmental group.

Joe MacHale (2004-). Still senior non-exec and a director of Morgan Crucible and Brit Insurance.

Sir Tom McKillop (2005-08). Director of BP and a Spanish drugs group, plus a trustee of the Council for Industry & Higher Education.

Sir George Matthewson (2001-06 after nine years running the bank). Now chairs the Edinburgh government’s Council for Economic Advisers.

Gordon Pell (2000-). Still an RBS executive director. Chairs the Business Commission on Racial Equality and is on the FSA Practitioner Panel.

Sir Steve Robson (n-x 2001-09). The former adviser to the Chancellors is now a director of JP Morgan Cazenove, mining group Xstrata and the Government’s Partnerships UK.

Bob Scott (n-x 2001-08). Chairs the Yell group with directorships of Swiss-re and Crimestoppers.

Peter Sutherland (n-x 2001-09). Chairman of BP and Goldman Sachs International and advises EC president Jose Barraso on climate change.

Guy Whittaker (2006-). Now finance director.