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Abbey National
The Abbey National Building Society was formed in 1944 by the merger of the Abbey Road and the National building societies. It was the first building society in the United Kingdom to Demutualisation, demutualise, doing so in July 1989. The bank expanded through a number of acquisitions in the 1990s, including James Hay Partnership, James Hay, Scottish Mutual, Scottish Provident and the rail leasing company Porterbrook. Abbey National launched an online bank, Cahoot, in June 2000. In September 2003, the bank rebranded as Abbey, and in November 2004, it became a wholly owned subsidiary of the Spanish Santander Group, with a rebrand following in February 2005. In January 2010, the savings business of Bradford & Bingley was combined with the bank, and Abbey National plc was renamed Santander UK plc. Prior to the takeover, Abbey National plc was a constituent of the FTSE 100 Index. History Pre-merger: The National Building Society The National Building Society had its origins in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cater Allen
Cater Allen Private Bank is a private bank operating in the United Kingdom and is a subsidiary of Santander UK. Tracing its history back to a bank founded in Blackburn in 1816, (pdf) it was independent for 180 years, before being purchased in 1997 by Abbey National. Cater Allen Offshore was initially run as a separate enterprise within Abbey, but in 2001 it was merged with Abbey National Offshore. The Cater Allen name came about relatively late in the bank's history, from Cater Ryder's 1981 acquisition of Allen, Harvey and Ross. Cater Ryder itself had been formed 20 years earlier by the merger of Cater and Co. (founded 1908) and Ryder's Discount Co. Cater Allen has significantly expanded twice in the past twenty years, with the 1994 acquisition of Tyndall Bank, and the 2001 acquisition of Fleming Premier Banking from JPMorgan Chase JPMorgan Chase & Co. (stylized as JPMorganChase) is an American multinational financial services, finance corporation headquartered in New York ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Santander UK
Santander UK plc (, ) is a British bank, wholly owned by Banco Santander, a Spanish bank. Santander UK plc manages its affairs autonomously, with its own local management team, responsible solely for its performance. Santander UK is one of the leading personal financial services companies in the United Kingdom, and one of the largest providers of mortgages and savings in the United Kingdom. As of May 2025, the bank has 18,000 employees and 14 million active customers, 64 corporate business centres. The bank, with its head office in London's Regent's Place, was established on 11 January 2010, when Abbey National plc was combined with the savings business and branches of Bradford & Bingley plc, and renamed Santander UK plc. Alliance & Leicester plc merged into the renamed business in May 2010. History Establishment The bank has its origins in three constituent companies— Abbey National, Alliance & Leicester and Bradford & Bingley—all former mutual building so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
City Of Glasgow Bank
The City of Glasgow Bank was a bank in Scotland that was largely known for its spectacular collapse in October 1878, which ruined all but 254 of its 1,200 shareholders since their liability was unlimited. History The bank was founded in 1839 with an initial capital of £656,250 (equivalent to about £56 million at 2023 prices). It aimed to cater particularly for small savers, with its branches opening in the evenings to receive deposits. It was part of a wave of bank formations that saw 16 Scottish banks established between 1825 and 1840. By the 1870s the bank had grown to have the third-largest branch network in the United Kingdom. As was common at the time its shareholders had unlimited liability and so they were jointly liable to cover any debts and were called to inject additional funds to cover any losses. The bank's principal office was established in Virginia Street, Glasgow in 1842 and moved to 21 Glassford Street in 1851. In 1855 it moved to a huge building on Tronga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demutualization
Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a windfall gain, "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the Mutual organization, mutual society. The mutual traditionally raises Capital (economics), capital from its customer members in order to provide services to them (for example building society, building societies, where members' savings enable the provision of Mortgage loan, m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Society
A building society is a financial institution owned by its members as a mutual organization, which offers banking institution, banking and related financial services, especially savings and mortgage loan, mortgage lending. They exist in the United Kingdom, Australia and New Zealand, and formerly in Ireland and several Commonwealth countries, including South Africa as mutual banks. They are similar to credit unions, but rather than promoting thrift and offering unsecured and business loans, the purpose of a building society is to provide home mortgages to members. Borrowers and depositors are society members, setting policy and appointing directors on a one-member, one-vote basis. Building societies often provide other retail banking services, such as current accounts, credit cards and personal loans. The term "building society" first arose in the 19th century in Kingdom of Great Britain, Great Britain from cooperative banking, cooperative savings groups. In the United Kingdom, bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abbey National Logo
An abbey is a type of monastery used by members of a religious order under the governance of an abbot or abbess. Abbeys provide a complex of buildings and land for religious activities, work, and housing of Christian monks and nuns. The concept of the abbey has developed over many centuries from the early monastic ways of religious men and women where they would live isolated from the lay community about them. Religious life in an abbey may be monastic. An abbey may be the home of an enclosed religious order or may be open to visitors. The layout of the church and associated buildings of an abbey often follows a set plan determined by the founding religious order. Abbeys are often self-sufficient while using any abundance of produce or skill to provide care to the poor and needy, refuge to the persecuted, or education to the young. Some abbeys offer accommodation to people who are seeking spiritual retreat. There are many famous abbeys across the Mediterranean Basin and Eur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Act 1986
The Financial Services Act 1986 (c. 60) was an Act of the Parliament of the United Kingdom passed by the government of Margaret Thatcher to regulate the financial services industry. The Act used a mixture of governmental regulation and self-regulation, and created a Securities and Investments Board (SIB) presiding over various new self-regulating organisations (SROs). It was superseded by the Financial Services and Markets Act 2000. Context The Act may be thought of as an “emasculated Gower”. Professor Laurence Gower had been asked to produce a report on financial regulation, followed by a draft bill. He tended towards a tighter and more top-heavy regime. The Thatcher government became impatient with this process and pushed a second bill through in place of Gower with more emphasis on self-regulation but containing most of the regulatory content of the Gower bill. This relatively light approach to regulation followed a trend taking place in America under the Reagan administ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building Societies Act 1986
The Building Societies Act 1986 (c. 53) is an act of Parliament of the United Kingdom governing building societies A building society is a financial institution owned by its members as a mutual organization, which offers banking institution, banking and related financial services, especially savings and mortgage loan, mortgage lending. They exist in the Unit ... ( mutually-owned mortgage-lending institutions). It removed certain restrictions on the range of services they could offer, so that they could compete with banks on a level basis: they could now make unsecured loans, offer cheque accounts, exchange currencies, provide stockbroking services, manage personal equity plans (tax-privileged investment accounts) and portfolios of unit trusts, arrange and advise on insurance, etc. A new regulatory agency, the Building Societies Commission, was set up to supervise the activities of the societies, which were allowed to de-mutualise and become public limited companies subjec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Co-operative Bank
The Co-operative Bank p.l.c. is a British retail and commercial bank based in Manchester, England. Established as a bank for co-operators and co-operatives following the principles of the Rochdale Pioneers, the business evolved in the 20th century into a mid-sized British high street bank, operating throughout the UK mainland. Transactions took place at cash desks in Co-op stores until the 1960s, when the bank set up a small network of branches that grew from six to a high of 160; in 2023 it had 50 branches. The Co-operative Bank is the only UK high street bank with a customer-led ethical policy which is incorporated into the bank's articles of association. The policy was introduced in 1992 and incorporated into the bank's constitution in 2013, then revised and expanded in 2015 in line with over 320,000 customer responses to a poll. Despite its name, the bank has never been a cooperative itself. In the 1970s it was registered as a separate PLC that was wholly owned by the co- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metropolitan Borough Of Knowsley
The Metropolitan Borough of Knowsley is a metropolitan borough in Merseyside, North West England. It covers several towns and villages, including Kirkby, Prescot, Huyton, Whiston, Halewood, Cronton and Stockbridge Village; Kirkby, Huyton, and Prescot being the major commercial centres. It takes its name from the village of Knowsley, though its headquarters are in Huyton. It forms part of the wider Liverpool City Region. Within the boundaries of the historic county of Lancashire, the borough was formed on 1 April 1974 by the merger of Huyton-with-Roby Urban District, Kirkby Urban District and Prescot Urban District, along with most of Whiston Rural District and a small part of West Lancashire Rural District, all from the administrative county of Lancashire. It is known for Knowsley Hall and Knowsley Safari Park. History The modern-day borough of Knowsley was formerly composed of villages and towns in Lancashire dating back to 650 AD. The Earls of Derby have their ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stockbridge Village
Stockbridge Village is an area of Knowsley in Merseyside, England. The population of the ward at the 2011 census was 6,018. Up until 1983, the area was formerly known as Cantril Farm, and was the subject of an article in a special report by ''The Economist'' entitled "A new kind of ghetto", which described it a predominantly White area of high unemployment and low aspirations. History Formerly within the historic county of Lancashire, the original Cantril Farm council estate was built in the mid-1960s to rehouse some 15,000 people from inner-city slum clearances in Liverpool. It was part of a deal to rehouse some 200,000 people from inner-city Liverpool in new residential areas beyond the city's borders, with other families from inner-city Liverpool moving to other overspill places including Leasowe, Huyton, Kirkby, Halewood, Skelmersdale and Runcorn New Town from the 1950s into the 1970s. The land on which Cantril Farm would be built was purchased by Liverpool council i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
