Whats with The Woolwich?
John Stewart, the chief executive of the Woolwich, makes an unlikely guru of Internet banking. There is something rather incongruous about the way this avuncular Scotsman in pinstripes and red braces slips effortless into Silicon Valley jargon as he describes his attempts to turn a former South London suburban building society into the model “new economy” financial services factory. For the last 18 months, the 48-year-old has been bending the ear of anyone who would listen about how technology was transforming his business. One colleague said: “Most investors thought he was barking.” Recently, there have been signs that his message is getting through. Stockbroking analysts and management consultants who a year ago would have dismissed the Woolwich as an example of a business destined for the corporate scrapheap are now flocking to hear Mr Stewart’s recipe for growth. What many people find refreshing about Mr Stewart is that he is one of the few people running a bank who seems to have a
