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In July 2006, Citizens Bank eliminated the mortgage department in Michigan and terminated over 100 employees. On September 1, 2007, the individual banks under Citizens Financial Group, excluding Citizens Bank of Pennsylvania, merged into RBS Citizens, N.A. [22]
From 1988 to 2015, it owned Citizens Financial Group, a bank in the United States, and from 2005 to 2009 RBS Group was the second-largest shareholder in the Bank of China, itself the world's fifth-largest bank by market capitalisation in February 2008. [17]
Alemany joined RBS Americas as chairman and CEO in 2007. [11] In 2008, Alemany was named CEO of RBS Citizens Financial Group, and was appointed chairman and CEO in 2009. [12] She was also a member of the Royal Bank of Scotland Group's executive committee, RBS's nine-member executive leadership team.
The group was part of a consortium with Belgian bank Fortis and Spanish bank Banco Santander that acquired Dutch bank ABN AMRO in October 2007. [21] Rivals speculated that RBS had overpaid for the Dutch bank [ 22 ] although the bank pointed out that of the £49bn paid for ABN AMRO, RBS's share was only £10bn (equivalent to £167 per citizen of ...
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Citizens Bank of Maryland, a former bank based in Laurel, Maryland (1928–1997) Citizens Bank of Northern California, a former bank based in Nevada City, California (1995–2011) Citizens Republic Bancorp, a former bank based in Flint, Michigan (1871–2013)
The company pioneered the offset mortgage in the UK; it was conceived as a joint venture between Virgin Direct (Virgin's financial services company) and The Royal Bank of Scotland in 1997. Initially, the company was known as the 'Virgin One account' and promoted to Virgin Direct's 200,000 strong UK customer base.
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.