HBOS senior staff buy shares in show of confidence

0 Comments | AFP, March, 2008

LONDON (AFP) — Around 250 directors and senior staff at Halifax Bank of Scotland have bought millions of pounds' worth of the firm's shares, the bank said Monday, following market rumours that it faced liquidity problems.

The staff, including chief executive Andy Hornby, snapped up more than six million pounds (7.7 million euros, 11.9 million dollars) worth of shares.

The move came after the bank last week denied speculation that it had requested emergency funding from the Bank of England in an echo of what happened to troubled lender Northern Rock, which was nationalised last month.

"This is a very straightforward demonstration of the very high confidence our management has in HBOS," a spokesman said.

"This is a very strong company with good...