Ex-HBOS chief Sir James Crosby to return knighthood
9 April 2013 Last updated at 22:49 BST
Former HBOS chief executive Sir James Crosby has asked for his knighthood to be removed.
He will also forgo 30% of his £580,000-a-year pension following last week's critical report into the bank's collapse during the financial crisis.
Sir James served as chief executive at HBOS between 2001 and 2006.
Hugh Pym reports.