HBOS
Company Information
About
The HBOS Company
On
4th May 2001, the Boards of Bank of Scotland and Halifax announced
that they had agreed to merge to create the HBOS Group. And, within
four months, on the 10th September the merger became effective.
The combination of Halifax and Bank of Scotland as HBOS creates
a major and distinctive competitor in the UK financial services
market, having the scale and the expertise to challenge the 'Big
4' clearing banks.
HBOS
has a substantial customer base and the means of unlocking significant
commercial opportunities offered by the partnerships and alliances
of Bank of Scotland and Halifax.
HBOS Corporate headquarters
The
corporate headquarters of HBOS plc stand majestically on the Mound,
with commanding views over both the Old and New Towns of Edinburgh.
Purchased
by Bank of Scotland's Directors in 1800, the site cost just £1,350.
Their intention was to erect a purpose built bank house, much needed
after years of cramped and unsanitary conditions just off the Lawnmarket.
They engaged the architects Robert Reid and Richard Crichton, who
designed a detached Adam-style villa complete with living quarters
for the Bank's Treasurer and his family. However, the building attracted
criticism, largely due to its excessive height when viewed from
Princes Street.
The
need for more space led the Directors to commission the architect
David Bryce in 1863. His brief was twofold: to extend the building
and to improve its appearance, particularly the northern elevation.
Bryce succeeded on both counts and transformed the building into
the Roman Baroque creation you see today. He extended it to the
south, and added new wings east and west, tied into the side elevations
by curved quadrants. He replaced the shallow dome with one derived
from the 17th century Italian architect, Pietro da Cortona, and
topped it with a statue of the goddess 'Fame'. Inside he created
a glorious two-storey banking hall, more akin to a cathedral than
a bank.
Although
the building has undergone changes since then, most notably in 1929
and then again in the 1980s, it remains essentially the building
Bryce intended. Now it has embarked on the next chapter of its history,
as the headquarters of HBOS.
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