UK: RBS HELPS BOOST NATWEST CURRENT ACCOUNTS

Article Abstract:

Royal Bank of Scotland's (RBS) acquisition of NatWest earlier in 2000 has led to the latter now taking 15% of new accounts, up by one third on previously. RBS also revealed that output had doubled since NatWest branches started including service advisers. As part of an attempt to combat efforts to capture current account business by Halifax's Intelligent Finance arm, RBS also plans to use RBS and NatWest outlets to offer the Virgin One mortgage offset account.

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Royal Bank raises 2bn pounds sterling to double its US presence

Article Abstract:

Royal Bank of Scotland is issuing 2 billion pounds sterling of new shares to raise money for the case purchase of the retail banking activities of Mellon Financial Corp. This is part of Royal Bank of Scotland's strategy of carefully and gradually establishing a presence in the US.

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Boardroom cull will follow NatWest deal with L and G

Article Abstract:

The acquisition of the life insurance company, Legal and General by NatWest is likely to be followed by the departure of a number of senior managers, who could include NatWest's retail banking head, Martin Gray. Legal and General's chief executive, David Prosser, could replace Gray. A counterbid appears unlikely, though there has been speculation that one could take place. There will be an investigation by the London Stock Exchange into trading in Legal and General stocks prior to talks on the acquisition being confirmed.

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