NatWest Markets

NatWest Markets
Industry Investment Banking
Founded 2016 (1992)
Headquarters 135 Bishopsgate,
London EC2M 3UR
Key people
 Sir Howard Davies, Chairman
Ross McEwan, Chief Executive
Products Financing and Risk Solutions
Trading and Flow Sales
Parent The Royal Bank of Scotland Group
Website natwestmarkets.com

NatWest Markets is the investment banking arm of The Royal Bank of Scotland Group. It was created from the 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. The Act implements the Independent Commission on Banking recommendation that domestic retail banking should be "ring-fenced" from riskier trading activities by 2019.[1]

To give it legal form, it is proposed that the current Royal Bank of Scotland Plc will be renamed NatWest Markets Plc in 2018; at the same time Adam and Company Plc (which holds a separate PRA banking licence) will be renamed Royal Bank of Scotland Plc, with Adam and Company continuing as an RBS private banking brand.[2]

History

The NatWest Markets name was previously used from 1992 to 1997; the remnants of which were absorbed into the RBS Group on the acquisition of National Westminster Bank in 2000.[3]

NatWest Markets' origins lie in County Bank, which was originally formed in Manchester in 1862 and merged with District Bank in 1935.[4] District Bank was itself acquired by National Provincial Bank in 1962 and the County Bank name was used for its merchant banking subsidiary formed in 1965.[5] This County Bank acquired various stockbroking and jobbing firms, becoming County NatWest in 1987 and was later consolidated with corporate banking to form NatWest Markets.[6] NatWest Markets acquired US-based Greenwich Capital in 1996 and became Greenwich NatWest following disposal of large parts of the business.[7]

See also

References

  1. ↑ RBS brings back NatWest Markets name as part of 'ring-fencing' BBC News, 30 September 2016
  2. ↑ Treanor, Jill RBS to strengthen NatWest brand The Guardian, 30 September 2016
  3. ↑ Slater, Steve RBS renames investment bank as NatWest Markets Reuters, 30 September 2016
  4. ↑ Pohl, Manfred (ed.) Handbook on the History of European Banks (p. 1232) Aldershot: Edward Elgar Publishing, 1994
  5. ↑ Cooper, John The Management and Regulation of Banks (p. 58) Basingstoke: Macmillan Publishers, 1984
  6. ↑ Stockdale, Lydia County champions: County Bank and its property alumni Property Week, 25 January 2008
  7. ↑ Mullin, Keith ECB taper talk and a walk down memory lane International Financing Review, 5 October 2016
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.