Peter Burt to retire from HBOS

Following the announcement of the Bank of Scotland/Halifax merger in April 2001, Peter Burt, 58, took on the role of overseeing the Group's integration process. The main elements of that process are now in hand, the senior management team is in place, branch integration is underway in Scotland and all the main IT decisions have been made and are being implemented. Peter has therefore decided that the time is right for him to retire.

James Crosby, chief executive of HBOS, commented: "Peter's biggest legacy to HBOS is a very strong Bank of Scotland; we are fortunate to have that inheritance. I am sorry to see Peter retire and will miss his good counsel."