Britania merger vote

baby_boomer

David Anderson - another former BS CEO was the previous CEO of Co-op Financial Services.

But you illustrate the point that Richardson is no longer accountable to the customers of Britannia.

bristolleedsfan

realaledrinker wrote: »

so there is a precident to remove Richardson if he doesn't deliver.

Or when hes outlived his apparent usefulness.

baby_boomer

Britannia members seem to have voted for an expansion into corporate banking.

Sunday Herald

"...the Co-operative Bank, which opened a corporate banking arm in Edinburgh on March 19.

The Co-op had previously been a bit player on the corporate transaction scene, but now its Edinburgh Corporate Banking Centre aims to offer support for acquisition finance, bank refinancing and working capital facilities....."

Was this mentioned in the voting pack? What is Richardson's expertise in this field?

opinions4u

baby_boomer wrote: »

The Co-op had previously been a bit player on the corporate transaction scene, but now its Edinburgh Corporate Banking Centre aims to offer support for acquisition finance, bank refinancing and working capital facilities....."

Why is it always assumed the Scots are good at this sort of thing?

RBS
HBOS
Dunfermline

Need I continue?

baby_boomer

Although you could say that this Manchester / Leek trying to take over where the Scots have failed in their own backyard?

Cozworth806

At least you can access any money in the accounts rather than leave your £100 in, as come the merger anyone can become a member (or graciously will become one for free if a Britannia member)
The days of windfalls is certainly over as the boards seem to have got wise to paying out, instead they keep it to fund their pay/pensions.

opinions4u

Cozworth806 wrote: »

At least you can access any money in the accounts rather than leave your £100 in, as come the merger anyone can become a member (or graciously will become one for free if a Britannia member)
The days of windfalls is certainly over as the boards seem to have got wise to paying out, instead they keep it to fund their pay/pensions.

You miss the point. There is no money left in building society reserves to pay out for this sort of thing.

Yoshua

Im sorry if its been asked before but just to clarify.

What is the advantage to us with Brit accounts if they do merger?

What actual noticable changes will there be?

Lansdowne

" ...if they do merger"
They are merging, from August 1st Britannia will be part of Co-op Financial Services alongside Co-op Bank and CIS etc.

http://britannia.co.uk/home/_site/microsite/agm/faqs.html

I expect merging systems will take some time and that in a year or two all accounts will be on the same system - so instant transfers between Britannia savings and Co-opSmile current accounts, for example.