Sir Peter Middleton GCB
Sir Peter Middleton GCB (age 67) was appointed as Chairman at the 1999
annual general meeting. Sir Peter joined the Board in 1991 as Deputy
Chairman and Chairman of BZW. This followed a long career in HM
Treasury where he was Permanent Secretary from 1983 to 1991. He became
Chairman of Barclays Capital following the reorganisation of BZW in
October 1997. In May 1998, he relinquished his executive
responsibilities as Deputy Chairman and Chairman of Barclays Capital
but remained a non-executive Director. He resumed executive
responsibilities when he was appointed Group Chief Executive and
reappointed Group Deputy Chairman in November 1998. He stepped down as
Group Chief Executive following the appointment of Matthew Barrett in
October 1999. He is Deputy Chairman of United Utilities PLC,
Chancellor of Sheffield University and a member of the Financial
Reporting Council. He is Chairman of the Board Nominations Committee
and a member of the Board Risk Committee.
Matthew William Barrett
Matthew William Barrett (age 57) was appointed Group Chief Executive
and joined the Board in 1999. He joined Barclays from Bank of Montreal
where he was Chairman and, until February 1999, Chief Executive
Officer. He joined the Bank of Montreal in 1962 and during his career
held a variety of senior management positions in different areas
within the Bank, including Retail Banking, International Banking and
Treasury. He was appointed Chief Operating Officer in 1987, Chief
Executive Officer in 1989 and elected Chairman of the Board in 1990.
In 1994, he became an Officer of the Order of Canada, the country's
highest civilian honour, and in 1995 he was awarded the title of
Canada's Outstanding CEO of the Year. He has been a non-executive
Director of The Molson Companies Limited since 1992 and was also a
non-executive Director of The Seagram Company Limited from 1995 until
December 2000. He is a member of the Board Risk Committee.
Co. No. 03295699
1 CHURCHILL PLACE
Charges – Woolwich Subsidiary, Eastbourne
write with reference to two letters from your subsidiary The
Woolwich dated 1st and 3rd November
2005, copies enclosed.
have been a reliable customer with the Eastbourne branch for
some 15 years or more. On
the 31st October I deposited £864 by cheque from
the Prudential. This
cheque should have cleared on the 2nd November.
A copy of the deposit slip is enclosed.
between these dates The Woolwich claimed two £30
administration charges citing Effects Not Cleared, dated 1st
Nov and 3rd Nov.
It appears to me that any reasonable company operating
for the benefit of the customer, would have held off honouring
these payments, since it was obvious that monies were coming
from a reputable source.
of the duty to provide an effective service to myself, £60
was taken from my account in respect of two cheques issued
totalling some £145. This
must surely make your bank the most expensive service in
Europe, and I wonder if this sort of conduct is becoming an
institution, which, supposedly puts its members interests
passing this matter to the Banking Ombudsman, could I please
have your substantive comments at your earliest convenience.
note a copy of this letter will be posted at www.solarnavigator.net/sponsorship/barclays_bank_plc.htm
as will your reply or absense of reply and any
correspondence from other regulatory bodies.
societies are owned by their members for the benefit of both saving
and borrowing members. But building societies have been merging, have
been taken over by banks and have turned themselves into banks. This
study looks at what is taking place, and why.
is one of a series of eight studies of co-operatives and mutual
societies which were undertaken to determine causes of failure and
reasons for success, to see how these enterprises were controlled and
managed, to learn from the mistakes of others. What is taking place is
fascinating and often unexpected.
main report 'Co-operatives: Causes of Failure, Guidelines for Success'
is based on these studies. Its conclusions and recommendations are
entirely relevant and cover fundamental and practical problems of
co-ops and mutual societies, of members, of direction, management and
first building societies were formed about 200 years ago when some
people got together to co-operate with each other in building their
own houses. Members regularly contributed to the society and built the
houses together. Each completed house was allocated by lottery to a
member. They carried on until each member had his own house. The
society, the house-building co-operative, was then dissolved.
a while building societies began to borrow money from investors to
build houses more quickly and this was the start of permanent building
societies, now simply called building societies. Then
about 100 years ago, most UK building societies stopped building
houses and concentrated on providing capital for building houses, on
societies are mutual societies, are owned by their members for the
benefit of members, that is of both savers and borrowers alike.
people are tied for life to paying rent to, and so working for,
profit-seeking landlords who are able to increase rents largely at
will and who are thus absorbing any gains in income. The
building society movement, however, has enabled a massive number of
people in the UK to own their own homes. It has been giving people
something to work for and a sense of achievement from living in a
house of one's own, enabling them also to save and provide for
retirement and old age.
the UK at this time are 80 building societies with 5,500 branches,
having between them something like 30 million accounts (savers and
borrowers) and assets of GBP 262 billion. Their net profits of GBP 1
billion amount to a net profit per account of GBP 35.
legislation regulates what building societies may, or may not, do.
When banks started to offer mortgages, building societies were enabled
by legislation to compete with banks by providing personal loans and
other financial services such as current accounts. But building
societies have been merging, been taken over by banks and have turned
themselves into banks. Their number is reducing and branches are being
closed down. So here in this study we take a close look at what
is happening by means of case-studies and draw some relevant
banks concentrate on maximising rewards for directors and profits for
shareholders, a building society provides a service to its members.
Building societies, however, have retained surplus funds and over the
years built up massive reserves. Over 150 years, for example, UK
building societies built up GBP 14.3 billion of reserves. There is
much concern that this is being dissipated by conversions and
increased to GBP 16 billion during 1994/95 and the Building Societies
Commission in its annual report re-emphasised the
need for societies to explore ways of distributing excess capital to
members. While some societies have launched loyalty bonus schemes,
others are considering paying a regular dividend, by issuing some form
Scott, writing in the Observer, said Building
societies generally pay better returns than banks. But is the
difference enough? Building society directors have paid lip-service to
the ideals of mutuality for years. Even now, under siege from
aggressive outsiders, none has come up with a way to release their
substantial accumulated profits to members that would mark them out
from High Street banks. Instead, they cut savings rates at the first
public company would, typically, pay half its post-tax profits to
shareholders in dividends. If societies chose this measure, customers
could expect somewhere between GBP 15 and 20 per account each year.
However, building societies are not expected to follow this model and
most argue that any annual dividend-style distribution would fail to
impress customers. Instead, they are working on schemes such as
that announced by Bradford and Bingley last week that will pay sums
running into hundreds of pounds but only if the investor keeps the
account open for a few years.
has been and is taking place seems to be as follows:
SOCIETIES AND BANKS
concentrate on maximising rewards for directors and profits for
building society is a mutual society owned by its members. Both
depositors (lenders) and borrowers are members. The mutual interest
between lenders and borrowers is that profits are shared out between
them. Compared with banks, the lender gets more and the borrower pays
societies have been retaining some of their surpluses and over 150
years have built up massive reserves.
mutual society is run for the benefit of its members and its reserves
were accumulated for the purpose of better serving its members and the
so building societies became big, influential and powerful.
& Registered Office:
BARCLAYS BANK PLC
1 CHURCHILL PLACE
Company No. 01026167
Date of Incorporation: 04/10/1971
Country of Origin: United Kingdom
Company Type: Public Limited Company
Nature of Business (SIC(03)):
6511 - Central banking
Accounting Reference Date: 31/12
Last Accounts Made Up To: 31/12/2004
Next Accounts Due: 31/07/2006
Last Return Made Up To: 30/09/2005
Next Return Due: 28/10/2006
Last Members List: 30/09/2005
Last Bulk Shareholders List: 30/09/1999
BANK INTERNATIONAL LIMITED
are no branches associated with this company.
are no Oversea Details associated with this company.
tax benefits Global
Tax Navigator International
& Borrowing Investments
Share Dealing Premier
& Working Abroad