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Portman Building Society
Portman Building Society is to sell its Guernsey-based offshore deposit-taking business to Scarborough Building Society, with the transfer of ten staff.
Portman Building Society has agreed to acquire the Lambeth Building Society, which has 130 staff at nine southern branches.
Portman Building Society is to acquire the Staffordshire Building Society for undisclosed terms, gaining 42 branches and a wider product range.
Portman Building Society is to acquire Sun Bank, the Stevenage-based mortgage specialist with 180 staff, from Sun Life of Canada for £95m.
Portman Building Society is to start relocating 500 staff to a new £27m headquarters in Bournemouth in May, while a further 50 new jobs will be created.
Portman Building Society is planning to merge with Greenwich Building Society to create the sixth largest building society in the UK with assets of £4.3bn.