- Category : Business-Banker-Financier
- Type : MGE
- Profile : 3/5 - Martyr / Heretic
- Definition : Single
- Incarnation Cross : RAX Penetration 2
Scottish accountant, professor of accountancy, businessman and former Chairman of the board of directors and Governor of the Bank of Scotland.
In 1990, Shaw joined the Bank of Scotland as a non-executive director and in 1991 he became Deputy Governor. In 1996 Shaw and the Board oversaw the dilution of Standard Life's 33% shareholding in the Bank to other investors. Three years later the Bank had to cancel a deal with Pat Robertson, the evangelical preacher, owing to his controversial views. Shaw was chairman of Scottish Financial Enterprise as chairman from 1995 to 1999.
Towards the end of 1999, Shaw became Governor of the Bank and immediately oversaw an unsuccessful takeover bid for the National Westminster Bank. The Bank remained determined to merge with a suitable rival and on 4 May 2001 the Bank of Scotland and the Halifax bank agreed terms on a £30 billion merger.
In September 2001, the new holding company HBOS was established with Corporate headquarters in Edinburgh and Operational headquarters in Halifax, West Yorkshire.