Societies face conversion moves

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The Independent Online
Societies face conversion moves

BRADFORD AND Bingley and Yorkshire building societies are facing campaigns to turn them into banks. The campaign to convert B&B has been launched by Stephen Major, a quantity surveyor from Northern Ireland, who has put forward a resolution in favour of demutualisation and put himself up to join the society's board. Michael Hardern, who failed in a similar bid to convert B&B last year, surfaced again yesterday with a plan to convert Yorkshire Building Society. Yorkshire said it had received formal notification that he plans to put himself forward for election to the board and propose that the society takes immediate steps to convert to a bank.

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