West Brom set for name relaunch
Thursday 30th July 2009, 11:30AM BST.
West Bromwich Building Society is set for a re-launch with plans to add the name Birmingham to its title.
It unveiled plans to ditch its ‘tarnished’ name, as it was revealed that its chairman Brian Woods-Scawen is to quit.
Bosses at the West Brom rekcon that the name change is vital to its plans to expand into Birmingham.
But they also want to draw a line under a financial crisis that almost saw it disappear from the high street.
Mr Woods-Scawen, who became the West Brom’s chairman in 2006, told members at the AGM at the Banks’s Stadium that he would be stepping down once a replacement is found.
The building society has experienced massive losses and had been thrown into controversy by the £680,000 pay-off of former chief executive Stephen Karle, who quit suddenly in October.
Although the society denies any specific new name has yet been devised, chief executive Robert Sharpe believed the intention was to reflect a wider West Midlands coverage for the 160-year-old Black Country business.
He added that Mr Woods-Scawen had already met with Birmingham City Council leader Mike Whitby to discuss the proposal.
Councillor Whitby, he believes, “would be very pleased to help us establish a presence in Birmingham city centre”.
Mr Sharpe added: “The brand may be a little tainted, a little tarnished. It may be time for a new name, more descriptive of the area we are going to cover.”
But he insisted any name change would have to get the support of a majority of society members.
In June the society was saved from a potential collapse and a Dunfermline Building Society-type break-up by the creation of a brand new type of financial instrument.
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Black Country and Brum together?
I shall be taking my money out if this goes ahead.
Disgusted saver :-(
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Parochial attitudes such as shown by Brian Stone in the comment above just show why The Black Country is so deprived.
Rather than making investment decisions based on performance or ethics, there are plenty of parochial peasants prepared to make choices based on such arbitrary distinctions.
And we’re meant to be living in the 21st century? Grow up people. Jobs depend on the success of businesses to expand into bigger markets far, far, far larger than whatever any two people can agree is “the black country”. It is entirely irrelevant.
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History and identity is nothing to do ith parochialism, it is about diversity.
In Britain we have little manufacturing, or agriculture and we have seen what has happened to the financial sector. Culture and tourism are our only hope, and to blend the rich tapestry of regional identity into five or six bland mega-cities will destroy that as well.
I hope people in the Black Country will take their money out and invest in companies with our region at their heart!
Well done to the Express and Star for helping to keep our region going and not becoming the ‘Outer Birmingham Evening News’!
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Common sense idea.
This will set the tone for real progress and lead the way for the end of the horrible name of the Black Country and allow the area to become part of Greater Birmingham which works very well with Greater Manchester.
As a Wulfrunian myself, like most people I appreciate the need for change and we should welcome the economic benefits of ditching the black country tag and joining forces under the Birmingham banner and lets be honest the Black Country has an abysmal reputation as well.
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1 & 3 – are you nuts?
(1) You can’t sign off as “Disgusted Saver” because if you were an actual saver, you’d go for the best deal for you.
(2) WBBS will still retain a presence in the Black Country, employing people in the Black Country
(3) A building society has nothing to do with “the rich tapestry of regional identity”.
(4) I’m sure people outside of West Brom currently invest in it despite it being called “West Brom”.
(5) Saving the business, expansion to secure its interests surely shows they have “our region at their heart” by doing everything they can to retain a presence.
(6) “we have little manufacturing…” … because a good chunk of businesses live in their own little bubble unaware of the bigger picture or opportunities diversification brings!
(7) And this is the stupidest bt – “I hope people … will take out their money…. region at their heart”. If we take out our money, branches ACROSS OUR REGION will close and people living IN OUR REGION will lose jobs. That nice big building on West Brom High Street will be boarded up and the town centre will look even more of a hole.
All that said, I agree with the sentiment of retaining identity. But not like that.
Oh, and i’m from Walsall. I hate businesses that set up here and advertise nationally as “North Birmingham”…. that’s different.
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so its alright to change the name to bury the misdeeds of the recent past ie a vast amount of money paid to some one who oversaw the near demise of the society when they pay the lowest rates of the sector leave the name alone its stood in good stead for one hundred and sixty years nand maybe with the right people at the helm perhaps a bit longer
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And another thing…..Why is the Travelodge at Brierley Hill named ‘Dudley Birmingham’????
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Torquay Man, one suggestion, stop where you are.
If Progress means been swallowed up & becoming a Greater Birmingham area, I think I will be joining you in Devon.
All it will mean, the area now described as the Black Country, will become a even bigger back water than it is now
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So West Brom’s directors almost bankrupt the society and pay a big bonus to the failed ex Chief Exec. They then sell some new financial instrument to the City and dilute the rights of members. No vote of course on any of this.
Now they want to rebrand the society (who cares) all of a sudden we get a say over something which doesn’t really matter.
What a joke!
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