Santander calls time on UK banking brands
When Spanish bank Santander took over Abbey National, Alliance & Leicester and Bradford & Bingley there were high hopes that the enlarged group would prompt a significant shakeup of the UK banking industry. The company has been highly successful in the UK and managed to time many of its acquisitions to perfection but there appear to be great changes afoot. The company has announced that as of next year, brands such as Abbey (formerly Abbey National), Alliance & Leicester and Bradford & Bingley will disappear from the high street forever.
These are the names that have a history which in some cases stretches back over 100 years and are very well known in the UK. However, Santander is finally looking to put everything under its own umbrella and further simplify the situation in the UK which has confused some people. This is a company which has been very successful in the worldwide financial sector and continues to acquire bolt on operations even in these difficult times. It will be interesting to see how UK consumers react to the disappearance of brand names such as Abbey, Alliance & Leicester and Bradford and Bingley and whether Santander is right to replace them with its own brand name.
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