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The loans part of the company was nationalised, while the commercial bank was sold. [87] 2008 In October, the Royal Bank of Scotland, and the newly merged HBOS-Lloyds TSB was partly nationalised. The Government took approximately 60% of RBS (later increased to 70%, then 80%) and 40% of HBOS-Lloyds TSB as part of the £500bn bank rescue package ...
Adam and Company continued as an RBS private banking brand in Scotland, along the same lines as the Messrs. Drummond and Child & Co. businesses in England. [4] As part of the restructuring and brand management, it was decided that NatWest would become RBS Group's primary customer-facing brand in England and Wales.
In 2004, RBS purchased the credit card division of Connecticut-based People's Bank. [16] [17] This purchase allowed Citizens to issue and market its own credit cards. In October 2015, RBS sold its remaining stake in Citizens Financial Group, having progressively reduced its stake through an initial public offering (IPO) started in 2014. [18]
The holding company was renamed The Royal Bank of Scotland Group in 1979 [10] and became a public company in 1982. [11] The late 1990s saw a new wave of consolidation in the financial services sector. In 1999, the Bank of Scotland launched a hostile takeover bid for English rival National Westminster Bank. [12]
NatWest Markets plc is the investment banking arm of NatWest Group based in the United Kingdom.. The company was created from the then RBS Group's corporate and institutional banking division in 2016, as part of a structural reform intended to comply with the requirements of the Financial Services (Banking Reform) Act 2013 and to give the NatWest brand greater prominence.
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Following the October 2008 bailouts of RBS, HBOS and Lloyds TSB together with Lloyds TSB's January 2009 merger with HBOS, the Government was holding a 43% stake in Lloyds Banking Group, but then on 6 March 2009, after it became apparent that the HBOS merger had been bad for Lloyds since HBOS had made losses of £11bn, the Government announced it would increase its stake in Lloyds to 65% (77% ...
Early in his career (1995-97) Kingman was a Financial Times Lex columnist. He also worked in the Chief Executive's office at BP, 1997-98. Kingman was closely involved with the response to the 2007-09 financial crisis. He handled nationalisation of Northern Rock, and led negotiations with RBS, Ll