Telegraph.co.uk – When Andy Hornby, the former chief executive of HBOS, was asked by the Treasury Select Committee to detail his banking qualifications he couldn’t. Like his fellow bankers, Sir Fred Goodwin, Sir Tom McKillop and Lord Stevenson, being questioned by the panel, Mr Hornby, had to admit publicly that he held no formal banking qualifications. However unlike his fellow bankers, Mr Hornby’s admission held one important qualification.
"I have an MBA from Harvard," he told the MPs, "where I specialised in all the finance courses including financial services."
With the question about qualifications almost certain to come up, Mr Hornby’s answer was almost certainly prepared. By referring not just to his MBA, but also to where he got it from, Mr Hornby knew he was putting himself firmly at the front of the pedagogical pecking order. Harvard prides itself on consistently being the highest-ranked university; Mr Hornby no doubt prides himself on being the highest-achieving student out of his year, coming top out of 800 peers.