Britannia merges with the Co-op

The UK's second largest building society and the ethical bank - two of the biggest customer-owned financial services businesses in the UK - will hold £70bn of assets under management, nine million customers and 12,000 employees, with more than 300 branches and 20 corporate banking centres. The super-mutual will be known as Co-operative Financial Services, but no decision has been taken as yet regarding the retention of the Britannia brand. "The combined and complementary strengths of our businesses will offer customers a strong, fair and ethical, alternative to banking plcs," explains Rod...