The Woolwich


The Woolwich

The Woolwich was the trading name of the Woolwich Building Society, founded in 1847 as one of the first 'permanent' building societies. It is now a trading name of Barclays Bank PLC.

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”. The Woolwich also sponsored local football team Charlton Athletic.

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

In 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.

On June 28 2006, Barclays announced [ [http://www.newsroom.barclays.co.uk/content/Detail.asp?ReleaseID=683&NewsAreaID=2 Barclays puts Woolwich at heart of UK retail revitalisation ] ] that The Woolwich was to become the Barclays UK mortgage brand, 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, [ [http://news.bbc.co.uk/1/hi/business/5126032.stm BBC NEWS | Business | Barclays to cut 1,200 positions ] ] mostly at The Woolwich contact centre in Clacton-on-Sea which closed at the end of 2007. Woolwich accounts were migrated to Barclays during the first half of 2007.

References

External links

*Official|http://www.woolwich.co.uk


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