1995 Allied Dunbar – Lets Face the Music and Dance

allied_dunbar_logoThe Company was founded by Sir Mark Weinberg, Lord Joffe and Sir Sydney Lipworth after Abbey Life was taken over, when they obtained seed finance fromHambros Bank, and set up its headquarters in Swindon town centre in 1970 under the name ‘Hambro Life Assurance’.   It was first listed on the London Stock Exchange in 1975.  The company expanded its financial adviser operations during the late 70’s and early 80’s, acquiring the Allied Unit Trusts of which it was soon the major unitholder, to become ‘Allied Hambro’ in 1984; after Hambros disposed of their highly profitable investment, changing to ‘Allied Dunbar’ in 1985 after it purchased Dunbar & Co., a small private bank; following the acquisition by BAT Industries,  the asset management department was hived off to form Threadneedle, and it was bought out by Zurich Financial Services in 1998.

Its forceful direct sales force became the Zurich Advice Network (ZAN) in 2001.  In 2005 and following changes in industry regulation ZAN evolved into a stand-alone limited entity known as Openwork – a directly authorised multi-tiered financial distribution network.

Info gleaned from Wikipedia

1988 Standard Life

The Standard Life Assurance Company was established in 1825 and was reincorporated as a mutual assurance company in 1925.

During the 19th century it opened offices in Canada, India, Shanghai and Uruguay.

In 2006 demutualisation took place and the company was floated on the London Stock Exchange.

The company sold Standard Life Bank plc to Barclays plc in January 2010 and then acquired the remaining 75 per cent stake in Three sixty, a financial advisory support business, that it did not already own for an undisclosed sum in March 2010.

Info gleaned from Wikipedia

1984 First National Building Society

First Active was founded in 1861 as the Workingman’s Benefit Building Society. It was incorporated in Ireland in 1875 under the Building Societies Act, 1874. In 1960 the name of the Society was changed to First National Building Society. Over a period of years First National grew both organically, through expansion of its branch network, and by the acquisition of the business of five small building societies:

  • Grafton Savings and Building Society, acquired in 1974
  • The Guinness Permanent Building Society, acquired in 1984
  • Ireland Benefit Building Society, acquired in 1984
  • Irish Life Building Society, acquired in 1993, and
  • Postal Service Permanent Building Society, acquired in 1985.

In 1994 First National acquired Mortgage Trust Limited, a UK centralised mortgage lending business. In 1995 a deposit taking subsidiary commenced business in Guernsey, Channel Islands. The Group’s UK operations were expanded in 1996 through the acquisition of The Mortgage Corporation. A retail deposit taking operation was established in England in 1996 to obtain sterling deposits to fund the Group’s growing mortgage business in the UK.

Info gleaned from Wikipedia

1988 Woolwich

The Woolwich is a trademark of the British bank Barclays. Originally the ‘Woolwich’ was the Woolwich Building Society before it demutualisedand became a public limited company in 1997. The Company was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but was acquired by Barclays in 2000.

Info gleaned from Wikipedia

Midland Bank 1980s

Midland Bank ad from 1980s

Midland Bank Plc was one of the Big Four banking groups in the United Kingdom for most of the 20th century. It is now part of HSBC. The bank was founded as the Birmingham and Midland Bank in Union Street, Birmingham, England in August 1836. It expanded in the Midlands, absorbing many local banks, and merged with the Central Bank of London Ltd in 1891, becoming the London City and Midland Bank. After a period of nationwide expansion, including the acquisition of many smaller banks, the name Midland Bank Ltd was adopted in 1923. By 1934 it was the largest deposit bank in the world. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but in 1992 it was taken over by HSBC Holdings plc.