Big players may join forces
Building Societies Conference 1995
Thursday 18 May 1995
Until recently, such alliances were a strategy thought to apply only to smaller societies. But the bigger organisations now want to be allowed to merge while keeping their own names in their separate business areas. This would be designed to prevent further hostile approaches by banks similar to the current attempt by Abbey National to take over National & Provincial.
A spokesman for Bradford & Bingley said the society was committed to the concept of mutuality. "The board haven't discussed the Hollick proposals yet, but we liked the message he put across," he said.
He argued that building society reserves were held by the management in trust for future generations of members, not just for the present membership.
A spokesman for the Birmingham Mid-Shires society said that being owned by, or becoming, a bank had many disadvantages. "Why should building societies give up the chance to be the jewels in the crown of the financial services world, noted for their friendliness and good service? Banks treat you as a number, building societies as a customer."
Adrian Coles, secretary of the Building Societies Association, said the biggest problem facing societies was that it was easy for banks to dangle cash inducements to society members to vote in favour of selling up.
- 1 Moscow voted the world's unfriendliest city
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 4 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Senior British politicians tell David Cameron: When dead children are being washed up on beaches, it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...