Under a re-branding exercise, familiar business names will disappear. It is interesting that they will all be financial business names. I wonder if the corporate re-branding is meant to dupe us into feeling more secure, more trusting. I hear you hrrrumph! And so should you. The names that will disappear are;
Alliance and Leicester;
Abbey (which was Abbey National, so it has metamorphosed once already),
Bradford & Bingley.
From now on we will be able to fantasise we are in some Spanish high streets. The familiar names will all become Banco Santander.
This is interesting for another rather more pertinent reason. I believe, that at present, anyone with monies in these three institutions are protected up to 50k of losses, in each one, because they are licensed separately in the U.K, in the names that currently exist. will the corporate changeover mean that the financial protection limit of 50k per institution, will change too?