Former HBOS chief executive James Crosby has been formally stripped of his knighthood at his own request following a scathing parliamentary report into the bank's collapse.
The official announcement that the honour had been withdrawn from Mr Crosby was reported in the London Gazette.
Mr Crosby asked to have the honour removed after the Parliamentary Commission on Banking Standards claimed he was the ''architect of the strategy that set the course for disaster'' in his handling of the bank.
What do bankers spend their bonuses on?
Former HBOS chief loses knighthood
Discover More Like This
BACK TO SLIDE
The London Gazette, the official journal of record, said: "Letters Patent dated 11 June 2013 have passed the Great Seal of the Realm cancelling and annulling the Knighthood conferred upon James Robert Crosby on the 6 December 2006 as a Knight Bachelor."
Following the commission's report in April Mr Crosby announced he would give up 30% of his £580,000-a-year pension and stood down from roles with catering firm Compass Group and private equity firm Bridgepoint.
He was given a knighthood after leaving HBOS in 2006, but following the report said he believed ''it is right that I should now ask the appropriate authorities to take the necessary steps for its removal''.
Responding to the report in April he said it made for ''very chastening reading''.
He added: ''Although I stood down as CEO of HBOS in 2006, some three years before it was taken over by Lloyds, I have never sought to disassociate myself from what has happened."
He added: "I am deeply sorry for what happened at HBOS.''
For a knighthood to be withdrawn, the Honours Forfeiture Committee has to make a recommendation to the Prime Minister, who then passes it on to the Queen for a decision.
Top 10 expensive celebrity mistakes
Former HBOS chief loses knighthood
The N-Dubz singer was allegedly caught fixing up a drug deal between an undercover Sun reporter and her dealer friend and part-time rapper Mike GLC.
The illegal activity is likely to cost Tulisa dearly as she has cashed in on her youth appeal through the story of her troubled background and claims to have shunned drugs to grow her music career.
The modern day sporting hero and winner of seven consecutive Tour de France competitions saw his reputation plummet last year when he was found guilty of doping and cheating his way through is career.
Armstrong was stripped of all his titles, ordered to return his prize money, and sponsors couldn't drop him quick enough. He is also being sued by teammates. It is estimated that it will cost him $125m.
After possibly one of biggest public meltdowns in history, the actor lost it with the creator of his TV series Two and a Half Men. His outburst together with outlandish behavior including alleged drug benders, porn stars and drink problems, lead to Sheen being fired from the show. He reportedly earned $1.25m per episode, meaning he lost $36m for the whole season.
At the height of her short career, teen star Lohan was commanding around $7.5m per movie at four movies per year. Yet the pressures of fame at a young age got to The Parent Trap and Mean Girls star, seeing her life spiral out of control as she became embroiled in allegations of drug and alcohol abuse, jewellery theft, and drunk driving. Her earnings quickly plummeted and remain he doldrums.
Singer Chris Brown's reputation became muddied in 2009 amid allegations of assault against his then girlfriend, pop diva Rhianna.
The alleged offense took place the night before both stars were set to perform at the 2009 Grammy Awards. Brown's arrest on felony charges and the brutal images of Rhianna's battered face, led to an huge media frenzy. Overnight, Brown went from whiter-than-white Wrigley's gum and milk spokesperson to the most loathed man in music.
Fashions favourite supermodel could do no wrong until she appeared in the Daily Mirror in 2005 snorting "line after line" of cocaine at a recording studio with then-boyfriend and known drug addict, Pete Doherty.
Dubbed 'Cocaine Kate' by the press, Chanel promptly dropped Moss from their advertising, as did fashion house Burberry and Swedish brand H&M. But Moss managed to recover quickly from the scandal and is now the face of Rimmel, Dior and Mango.
Infidelity cost the golf star more than his marriage and a staggering $100 million divorce settlement – shaving brand Gillette was one of many brands to pull its endorsements following the incident in 2009. Woods also lost deals with Gatorade, AT&T and Accenture following the scandal.
Photos of the Olympic swimmer smoking a marijuana pipe saw Kellogg's pull its sponsorship of the sports star to protect their brand images. Phelps also received a suspension from competition and USA Swimming pulled financial support for three months.
Brazilian footballer Ronaldinho was axed from his Coca-Cola sponsorship deal after appearing with a can of Pepsi during a press conference at Atletico Minerio. The mistake cost the star £1 million in unpaid earnings as his £500,000 per-year contract was set to run until 2014.
While serving as president, Bill Clinton became embroiled in an embarrassing high profile scandal that looked set to cost him his career. The former president was accused of having sexual relations with intern Monica Lewinsky and harassment charges against Paula Jones.
Clinton was acquitted of perjury and obstruction of justice charges and made a public apology, which only served to strengthen his reputation. He went on to serve two presidency terms and left the office with the highest end-of-office approval rating of any U.S. president since World War II.