Saughter and May is advising Clydesdale Bank plc and Nationwide Building Society on the Part VII transfer of Clydesdale’s business to Nationwide

Saughter and May is acting for Clydesdale Bank plc ("Clydesdale") and Nationwide Building Society ("Nationwide") on the transfer of substantially all of Clydesdale’s business to Nationwide by way of a banking business transfer scheme under Part VII of the Financial Services and Markets Act 2000 ("the Scheme"). The Clydesdale and Nationwide legal team is led by Jill Brown, General Counsel – Corporate Advisory.

The Scheme, which was sanctioned by the High Court on 23 February 2026 and will take effect on 2 April 2026, follows Nationwide’s acquisition of Clydesdale’s parent Virgin Money UK plc in October 2024.