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The bank said that the power failure occurred at an IT centre in Copley, West Yorkshire [16] which caused several problems for Halifax's banking system. Halifax's online banking system did not recover from the power failure for several hours. [17]
In 2006, HBOS secured the passing of the HBOS Group Reorganisation Act 2006 (c. i), a local act of Parliament that rationalised the bank's corporate structure. [6] The act allowed HBOS to make the Governor and Company of the Bank of Scotland a public limited company, Bank of Scotland plc, which became the principal banking subsidiary of HBOS.
Halifax itself became a part of HBOS plc when it merged with the Bank of Scotland in 2001. In 2007, it became a division of Bank of Scotland plc following a reorganisation in the HBOS Group. When Birmingham Midshires became part of the Halifax in April 1999, it had savings balances of £5.9 billion and mortgage assets of £9.2 billion.
Online only Tandem Bank: 2015 London, England 0.5 [15] Online only The Co-operative Bank: 1872 Manchester, England 25.5 [16] 3,350 77 TSB Bank: 1810 (reestablished 2013) Edinburgh, Scotland: 47.7 [17] 5,426 212 Virgin Money UK: 2015 Glasgow, Scotland: 91.7 7,166 91
In 2001, a wave of consolidations in the UK banking market led the former Halifax Building Society—which originated in 1853—to agree to a £10.8 billion merger with Bank of Scotland. [ 12 ] Trustee Savings Bank (TSB) can trace its roots back to the first savings bank founded by Henry Duncan in Ruthwell , Dumfriesshire , in 1810.
HMS Halifax, a 10-gun schooner originally built for merchant service at Halifax, Nova Scotia in 1765 HMS Halifax (1775) , a schooner purchased in 1775 and sold 1780 HMS Halifax (1780) , an 18-gun sloop, originally USS Ranger , renamed after the ship was captured from the United States Navy on 11 May 1780, and sold in 1781,
Crosby joined the Halifax bank in 1994 as Managing Director of Halifax Life. [8] Five years later, he became the chief executive of Halifax plc, replacing Mike Blackburn, and in 2001 Crosby became the first chief executive of the newly formed HBOS Group after overseeing the merger between Halifax plc and the Bank of Scotland. [9]
HBOS offices in Lovell Park, Leeds, formerly that of the Leeds Permanent Building Society, before their takeover by the Halifax in 1995. Technology too was beginning to make an impact. In 1964 the board approved a research project to investigate the conversion of mechanical accounting to electronic data processing.