One of PMDs Subsidiary called happier provides banking and investment services to the general public and other companies in its country. The company was formed a few years ago when a society which focused on providing finance to assist members of the general public to purchase houses (a 'building society') changed to become a listed company. The majority of shareholders of Happier are members of the general public who borrowed money from Happier when it was a building society and were allocated shares when Happier obtained a listing because of their borrowing from Happier; there are only a few institutional Investors. The members register shows 20% of the companys shares are owned by 5 institutional Investors with the remainder owned by about 2,000,000 members of the public. There are no trade unions and employees of Happier are general satisfied with working conditions, though they were disappointed by a recent decision to transfer the call centre to a low wage economy for cost cutting purposes. Happier attempts to attract customers for its banking services using publicity about its good customer service and ethical investment policy. This policy has been largely successful though the standard of service is perceived to have fallen following the call centre move.