Abbey National
 |
|
| Subsidiary | |
| Industry | Financial Services |
| Fate | Renamed under parent brand |
| Successor | Santander UK Plc |
| Founded | 1944 |
| Defunct | 2010 |
| Headquarters | United Kingdom |
|
Key people
|
Lord Burns Chairman António Horta Osório chief executive |
| Products | Banking and Insurance |
|
Number of employees
|
20,000 |
| Parent | Santander Group |
| Subsidiaries | Abbey National Treasury Services Abbey International Cahoot Cater Allen |
| Website | www |
Abbey National plc was a bank based in the United Kingdom and former building society, which latterly traded under the Abbey brand name. As the former Abbey National Building Society, it was the first building society in the United Kingdom to demutualise, doing so in July 1989. The bank expanded through a number of acquisitions in the 1990s, including James Hay, Scottish Mutual, Scottish Provident and the rail leasing company Porterbrook. Abbey National launched an online bank, Cahoot, in June 2000.
In September 2003, the bank rebranded as Abbey, and in November 2004, it became a wholly owned subsidiary of the Spanish Santander Group, with a rebrand following in February 2005. In January 2010, the savings business of Bradford & Bingley was combined with the bank, and Abbey National plc was renamed Santander UK plc. Prior to the takeover, Abbey National plc was a constituent of the FTSE 100 Index.
The National Freehold Land Society, officially named the National Permanent Mutual Benefit Building Society to give it legal existence under the Building Societies Act 1836, was established by two Liberal members of parliament, Sir Joshua Walmsley and Richard Cobden, in 1849, joined a year later by John Bright. In 1856, it formed the British Land Company, which separated in 1878. Meanwhile, the Abbey Road & St. John's Wood Permanent Benefit Building Society was founded in 1874, based in a Baptist church on Abbey Road in Kilburn.
In 1932, the society moved into new headquarters, Abbey House, at 219–229 Baker Street, London, which it occupied until 2002. The site was thought to include 221B Baker Street, the fictional home of Sherlock Holmes, and for many years Abbey employed a secretary charged with answering mail sent to Holmes at that address.
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Wikipedia