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Woolwich PLC
Former type Public
Fate Acquired
Successor Barclays
Founded 1847
Defunct 2000
Headquarters London, UK
Industry Banking

The Woolwich was the trading name of the Woolwich Building Society. 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.

Contents

History

The Woolwich was founded in 1847 as one of the first 'permanent' building societies.[1]

The Woolwich was one of the largest UK building societies, and was famous in the 1980s for its entertaining TV advertising incorporating the slogan “I’m with the Woolwich”.[2]

The Woolwich Equitable Building Society demutualised in 1997, giving up its mutual status to become a bank: Woolwich PLC was formed, giving shares to investing and borrowing members of the society, and listing on the London Stock Exchange.[3]

In August 2000, Barclays bought Woolwich PLC which thus joined the Barclays Bank Group of companies. The Woolwich brand-name was retained after the acquisition, and the Woolwich Head Office remained in Bexleyheath, south-east London, five miles from the original office in Woolwich.[4]

On 28 June 2006, Barclays announced that The Woolwich was to become the Barclays UK mortgage brand,[5] supported by Barclays branches, and that Woolwich branches would be either closed or re-branded as Barclays. Associated changes to call centres affected up to 1,200 jobs, mostly at The Woolwich contact centre in Clacton-on-Sea which closed at the end of 2007.[6] Woolwich accounts were migrated to Barclays during the first half of 2007.

Operations

The Woolwich is now a trading name of Barclays Bank PLC.

Sponsorship

The Woolwich sponsored local football team Charlton Athletic.

References

External links

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