NatWest is seeking to rebuild its position in the US helped by changes to UK rules on overseas banking activities, reported the Financial Times.
Recently, the lender received approval from the US Federal Reserve to open a representative office in Connecticut that would "act as a liaison with current and prospective US customers of the bank".
The bank already operates a US-licensed broker-dealer in Stamford, Connecticut, which carries out trades for institutional investors including hedge funds.
This is the first notable effort by NatWest to expand in the US since the financial crisis.
It follows revisions to ringfencing rules introduced by former chancellor Rachel Reeves.
#connecticut #rules
Recently, the lender received approval from the US Federal Reserve to open a representative office in Connecticut that would "act as a liaison with current and prospective US customers of the bank".
The bank already operates a US-licensed broker-dealer in Stamford, Connecticut, which carries out trades for institutional investors including hedge funds.
This is the first notable effort by NatWest to expand in the US since the financial crisis.
It follows revisions to ringfencing rules introduced by former chancellor Rachel Reeves.
#connecticut #rules
2 months ago
