Williams & Glyn

This article is about the new bank being developed by RBS Group. For the former Williams & Glyn's Bank Ltd, see Williams & Glyn's Bank (historic).
Williams & Glyn
Industry Financial services
Headquarters United Kingdom
Number of locations
 314 branches
Area served
 Great Britain
Key people
 Jim Brown (Chief executive designate)
Parent The Royal Bank of Scotland Group

Williams & Glyn is a bank being developed in the United Kingdom by The Royal Bank of Scotland Group, planned to begin operating in 2016.[1] It will consist of 308 former Royal Bank of Scotland branches in England and Wales and 6 former NatWest branches in Scotland. RBS was required by the European Union (EU) to divest a portion of its business after HM Government took a 84% stake in the group during the 2008 United Kingdom bank rescue package, which the EU classed as state aid.

A consortium including Corsair Capital, Centerbridge Capital and the Church of England invested £600 million into the business in September 2013,[2] in exchange for equity once the bank is floated in an initial public offering (IPO). RBS is required by the EU's ruling to sell its full holding in the business by the end of 2017.[3]

Williams & Glyn will have approximately 250,000 small business customers, 1,200 medium business customers and 1.8 million personal banking customers.[4]

Leadership

It was announced in September 2013 that John Maltby would be chief executive with Philip Nevill Green, Mervyn Davies and Lance West as directors.[5] John Maltby was replaced by Jim Brown in April 2015. [6]

Branding

Initially planned to be called Williams & Glyn's, based on the historic Williams & Glyn's Bank, it was announced in December 2013 that the bank name would be shortened to Williams & Glyn owing to the difficulty of using an apostrophe in branding and website addresses. The original Williams and Glyn's Bank was formed by merging Williams Deacon's Bank with Glyn, Mills & Co.[7]

A logo for Williams and Glyn was revealed by RBS Group in April 2014. The logo features the words "Williams" and "Glyn" joined by a large ampersand.[8] The historic Williams and Glyn's Bank did not have a distinct logo, instead it used the "Daisy Wheel" logo of its parent company, The Royal Bank of Scotland.[9]

References

  1. ↑ Titcomb, James; Clancy, Rebecca (21 June 2004). "RBS tells Vince Cable: We can't speed up Williams & Glyn sale". The Telegraph. Retrieved 24 December 2014.
  2. ↑ Moore, James (28 September 2013). "Church takes 10% stake in RBS division to create an ‘ethical’ bank". The Independent. Retrieved 12 April 2015.
  3. ↑ Titcomb, James (7 February 2015). "RBS to spend £1.5bn carving off 'challenger bank' Williams & Glyn". The Telegraph. Retrieved 12 April 2015.
  4. ↑ "RBS sells 314 bank branches to Corsair consortium". BBC News. 27 September 2013. Retrieved 29 September 2013.
  5. ↑ "RBSG strikes pre-IPO deal for Williams & Glyn's". London Stock Exchange. 27 September 2013. Retrieved 24 December 2014.
  6. ↑ http://uk.reuters.com/article/2015/04/28/uk-rbs-williams-glyn-idUKKBN0NJ12V20150428
  7. ↑ Slater, Steve (19 December 2013). "RBS's Williams & Glyn: shorter name as split takes shape". Reuters. Retrieved 1 March 2014.
  8. ↑ Parsons, Russell (1 April 2014). "RBS unveils Williams & Glyn logo". Marketing Week. Retrieved 12 April 2015.
  9. ↑ "Church of England teams up with the City to buy 314 RBS branches and create new 'ethical' High St bank called Williams & Glyn's". This is Money. 27 September 2013. Retrieved 12 April 2015.

External links