Friday 8 November 2002

Narrow escape....

...for the Clydesdale Bank which actually considered doing away with its 164 year-old name:
Steve Targett, chief executive of Clydesdale and Yorkshire Banks, revealed yesterday that National Australia Bank shelved plans for a complete merger of its four UK banks in the spring.

We looked at it earlier this year, but decided not to do it. The strength of each of the brands in their local areas is too strong. The drawbacks would have outweighed the benefits.

Damned right. Scots are probably the most sensitive people on earth about matters of identity (with Yorkshiremen not too far behind!). A change to some bland global name would have cost the Clydesdale a huge chunk of its customers. Whoever decided to "consider" this plan is completely out of touch with the market. Why are some businesspeople so stupid?