HBOS spinner shifts to Westpac
The long-serving head of corporate affairs at HBOS in the UK before and during the failure of the bank in 2008 is to take up a similar role at Westpac.Shane O'Riordain will take up the job of general manager for corporate affairs at the Australian bank. Andrew Butcher has acted in the role since David Bell left earlier this year.O'Riordain served as communications director for HBSO from 2001 to the effective extinction of the bank in January 2009, when it was taken over by Lloyds Banking Group. O'Riordain then worked as group communications director for Lloyds for some months.He later secured a job as group communications director at the Royal Mail. He will leave that job to move to Australia.O'Riordain played a critical and controversial role in the dying days of HBOS in September 2008, as professional investors deserted the bank's debt and sold its shares.He was tasked with concealing the truth of the then frantic negotiations to sell the insolvent HBOS to Lloyds. In response to numerous queries on 16 September, 2008, O'Riordain said: "HBOS notes the current volatility in bank share prices following developments in the US. HBOS has a strong capital base and continues to fund very satisfactorily."HBOS failed that night, with negotiations hastily concluded for the sale of the bank to Lloyds Banking Group at a knock-down price (and without reference to the UK's competition commission).