A brief history of HBOS plc
Halifax and Bank of Scotland logos merging
HBOS plc was established in September 2001 from the merger of the Halifax and Bank of Scotland, becoming the fifth largest financial services company in the UK.
It incorporated many well known brands – including Clerical Medical and Birmingham Midshires – covering retail banking, corporate banking, insurance and investment management, and asset management.
Launched as 'the new force', HBOS set out to be the fastest growing financial services business in the UK, promising customers innovative products and value for money.
HBOS established its corporate headquarters in Edinburgh, but retained key divisional offices throughout the UK, including Retail in Halifax, Treasury Services in London, and Insurance and Investment in Bristol.
Cover of HBOS's first annual report
Since it began trading in 2001, HBOS profits have doubled and it currently has around 23 million retail customers (two out of five UK householders). It is the largest savings and mortgage provider in the UK.
HBOS also has significant interests outwith the UK, including Bankwest in Australia, and Banco Halifax Hispania in Madrid. In 2006, it launched a new retail bank in Ireland.
The company currently employs over 70,000 people worldwide.
To find out more about the current structure of the company click here.
To return to the Corporate History page click here.
