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Monday, March 24, 2008

Vote of Confidence in HBOS

The BBC reports that senior management and staff at HBOS have bought over £6M of the bank's shares after a steep fall in the firm's share price last week.

The bank said the move was a "demonstration of confidence" after it was hit by "malicious rumours".

HBOS CEO, Andy Hornby, spent £414,000 of his annual bonus to buy 92,812 shares.

HBOS executive directors and 250 senior managers, purchased 1.4 million shares at 446.25p.

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