Canada's TD Bank plans £7.5bn raid on RBS's US arm
TD Bank among companies rumoured
to be plotting acquisition of Citizens as government ponders future of RBS
Juliette Garside
The Guardian, Sunday 13 October
2013 14.26 EDT
Pressure to break up Royal Bank of Scotland is mounting
following suggestions that Canada's
TD Bank Group is looking to buy its US retail banking arm.
Citizens, which RBS bought in 1988, has one of the
largest branch networks in America's
prosperous north-eastern states and is thought to be worth $12bn (£7.5bn).
Acquiring it could propel a second-tier North American bank into the big league.
Royal Bank of Scotland Group plc
Royal
Bank of Scotland Group plc was a borrower at the Bailout - Term Auction Facility.
Note: 2008-2010
financial bailout was a government program at the Bailout - Term Auction Facility.
RBS
America is a subsidiary of the Royal
Bank of Scotland Group plc.
Ellen
Alemany is the CEO for RBS America,
and a trustee at the Committee for
Economic Development.
Foundation
to Promote Open Society was a funder for the Committee for Economic Development, and the Brookings Institution (think tank).
George
Soros is the chairman for the Foundation
to Promote Open Society.
Lawrence
K. Fish is an honorary trustee at the Brookings
Institution (think tank), and was the chairman for RBS America.
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