The Liberal Democrat peer, Lord Oakeshott, has said it is "not sustainable for Andy Hornby not to follow".

BBC: HBOS bosses remain under fire as Sir James resigns posts

He did not think his bosses, including chief executive Andy Hornby, had "a feel for banking the way I have".

BBC: Who and what bust Halifax Bank of Scotland?

But nor did he have Andy Hornby's feel for the retail sector.

BBC: Who and what bust Halifax Bank of Scotland?

The Banking Standards Committee said Sir James and another former boss, Andy Hornby, were primarily to blame for the collapse of the bank on 2008.

BBC: Sir James Crosby

Vince Cable wants to see if there is enough evidence to start disqualification proceedings against Andy Hornby, Lord Stevenson and Sir James Crosby, a source told the BBC.

BBC: Vince Cable 'examines ban for former HBOS directors'

He was succeeded in 2006 by Andy Hornby.

BBC: HBOS bosses remain under fire as Sir James resigns posts

Andy Hornby succeeded Crosby as chief executive.

BBC: Dishonours system for entitled bankers

The committee said the primary responsibility for the downfall of HBOS lay with Sir James, who was the "architect of the strategy that set the course for disaster" and Andy Hornby, who succeeded him in the top job and "proved unable or unwilling to change course".

BBC: Sir James Crosby

And here is one important reason why the non-bankers on the Co-op's board are nervous about getting bigger in banking: they are acutely aware of how the non-bankers at HBOS, Sir James Crosby, Andy Hornby and Lord Stevenson, were pilloried by MPs earlier this month for making a total horlicks of their bank.

BBC: Will Co-Op pull out of banking?