On 21 January 2009, Co-operative Financial Services and Britannia Building Society proposed a merger, with the new "super-mutual" being brought under the stewardship of The Co-operative Group. On 29 April 2009 the merger, the first under the so-called Butterfill Act, was agreed by Britannia members. On 1 August 2009 Britannia Building Society was legally dissolved and Neville Richardson, its last Chief Executive, became Chief Executive of the enlarged CFS. The resultant "super-mutual" had assets of £70 billion and 9 million customers.