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"

 

Football ground tour for Saffron BS members

HATS off to the tiny Saffron BS!

In a bid to sprinkle a bit of sparkle prior  to its annual meeting in Colchester on April 20, it is preceding the event with an "attraction" - a guided tour of the  ground of the town's Football League Division One club.

It will hardly compare with the likes of Anfield or Old Trafford, but it is a gesture that (some) members will appreciate.

In his review, Geoffrey Dunn cooes: "Members really appreciate the way the staff do things.

"An independent assessment of our customer services has reached a new record level and exceeds most societies, even those many times bigger than we are."

Meanwhile, in a note on recruitment policy, new chief executive Colin Field says: "It is as much about attitude as it is about skill, and we always seek to identify 'Saffron' people." 

What are  the attributes of 'Saffron' people?

Mr Field does not say. Perhaps a member will ask that question at the AGM.

Leeds BS boss upbeat on year's progress

IT has been a bumper year for the Leeds BS.

In his annual review, chief executive Peter Hill proclaims: "We attracted 22,000 new members, taking total membership to a record 719,00."

He continues: "Pre-tax profit rose by 23 per cent to a record £108.5-million."

The boss, who is 54, was rewarded  for the progress with a substantial hike in his pay.

His total remuneration was £649,000 compared with £586,000 the previous year.

There were also increases for the rest of the board - both executives and non-executives.

Kim Rebecchi, who left  as distribution and marketing director last June (after 26 years and 11 months with the society), received a "loss-of-office" payment of £136,407. 

Since September, she has been a non-executive director with the Business Enterprise Fund. 

The Leeds no longer has a distribution and marketing director.

Its senior  non-executive director is Les Platts (62) whose other interests including being treasurer of a county cricket club . . . oh dear, it's Lancashire CCC.

The society holds its annual meeting at 11am on Thursday April 14 at the Marriott Hotel in Leeds.