Former Asda director Andy Hornby has become the youngest ever boss of a major high street bank.

Hornby, 38, has been appointed chief executive at HBOS. He joined Asda in 1996 as corporate director working under Archie Norman. He later became managing director of George clothing before leaving Asda in 1999.

In heading up a FTSE 100 company, Hornby is following in the footsteps of fellow Asda graduates Justin King at Sainsbury and Boots chief Richard Baker.