Halifax financial director stands down

FD Roger Boyes will stand down after the merger between Halifax and Bank of Scotland is approved and will be replaced in the new organisation by Mike Ellis, currently Halifax’s chief operating officer.

Aged 57, Boyes became FD in 1995 when the Halifax merged with Leeds Permanent building society.

The news came as Halifax and Bank of Scotland announced details of its planned merger, including the location of its head office and management structure.

Chairman of the new bank, to be known as HBOS, will be Lord Stevenson, currently Halifax’s chairman, with Peter Burt, currently chief exec of BoS taking over as full-time deputy chairman.

Halifax’s chief executive James Crosby will retain his position in HBOS.Gordon McQueen, BoS’s head of treasury and finance and de facto FD will become head of treasury for HBOS.

A spokesperson for Halifax confirmed Boyes’ retirement but added it was too early to say whether the proposed 2,000 job cuts would affect other finance staff in the two banks.B>Links

Halifax website

Bank of ScotlandHalifax and BoS merger mystery

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