M&S Bank
Marks & Spencer Financial Services plc, trading as M&S Bank, is a retail bank operating in the United Kingdom. Founded in 1985 as St Michael Financial Services as the financial services division of Marks & Spencer and adopted its current name in 2012.
| M&S Bank | |
| Formerly | M&S Money St Michael Financial Services |
| Type | Public |
| Industry | Finance and Insurance |
| Founded | 1985 |
| Founder | Marks & Spencer |
| Headquarters | Kings Meadow, Chester |
Key people | David Lister, Chairman and Non-executive director Paul Spencer, Chief executive |
| Products | Financial services |
| Parent | HSBC |
| Website | bank |
Initially focused on providing credit through in-house store cards, the bank now provides a range of products to personal customers including credit cards, loans, savings, insurance and foreign currency exchange.
M&S Bank is operated as a joint-venture with HSBC and has been a wholly owned subsidiary of the latter since its sale in November 2004. The bank retains its own banking licence and board and continues to occupy its purpose-built headquarters in Chester.
The bank is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority. It subscribes to the Lending Code.