Monday, 18 April 2016

Yorkshire Building Society rebranding strategy to come under scrutiny?

YORKSHIRE Building Society chiefs could be quizzed about the fate of its subsidiaries - the Barnsley BS and the Chelsea BS - at the annual meeting in Leeds on Tuesday April 26.

The Barnsley name is to be ditched in favour of  rebranding under the name of the parent society, with branches set to close in towns where there is duplication.

The Chelsea branches will also be rebranded, but the name is set tocontinue for services offered online and over the phone.

In a note in the annual review, chief executive Chris Pilling states: “While these were difficult decisions to make, it is necessary that we continually review the way we do business to make sure we are acting in the best interests of the majority of our members.

“By making these decisions, we believe we will be more efficient and cost-effective, ensuring we can continue to offer long-term value.”

The society has still not quite managed to sort out its branding strategy. Is it the YBS, as indicated on the front cover of the review, or it the Yorkshire, as on the back cover?


In his first message since he took over as chairman last April, John Heaps says the YBS “has had another successful year in what has been a challenging environment”.

According to Mr Heaps, the Yorkshire’s fundamental aim is “to deliver a greater sense of financial security, allowing as many people as possible to enjoy life’s choices.”

Also within the YBS portfolio is the 45-branch Norwich & Peterborough BS which is not being included in the  branding shake-up. 

Chris Pilling - "difficult decisions"

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