SKIPTON Building Society has sprung to the defence of its chairman Mike Ellis, who is facing a possible investigation into his part in the failure of HBOS where he was finance director.

A Society spokeswoman said he had the "wholehearted" confidence of the board.

Mr Ellis could face investigation by the City regulator after being named in a damning report into the collapse of HBOS.

The report by Andrew Green QC names him, along with nine other former HBOS senior executives, saying they were "ultimately responsible"for its demise.

A Skipton Building Society spokeswoman said: “Skipton appointed Mike Ellis as Chairman in May 2011 due to his significant and valuable experience of building societies, banks and regulation, and the personal qualities that have enabled him to lead the board and work closely with the executive team.

"Since his appointment Mike has provided outstanding leadership to the Board and overseen a significant improvement in the Society’s performance during the intervening four years. He has the wholehearted confidence of the Board for the contribution he has made and continues to make to the Society.”