NatWest Group
Patriot Act Point of Pain: Reference Data
The financial industry is expected to spend more than $10 billion to comply with the Patriot Act over the next three years. And at the heart of the issue is the data.
FSA fines RBS for anti-money laundering control failings
The Financial Services Authority (FSA), the UK’s chief financial services watchdog, yesterday fined the Royal Bank of Scotland (RBS) £750,000 for breaching its anti-money laundering rules. It is the first time the FSA has issued a financial penalty for…
Citigroup, Deutsche Bank and UBS Warburg dominate FX derivatives in FX Week awards
Citigroup, Deutsche Bank and UBS Warburg led the FX forwards and FX options categories in FX Week’s awards again this year, confirming their dominance in derivatives.
Risk conference speakers predict more gloom for CDO buyers
The problems of the collateralised debt obligation (CDO) business have been highlighted at Risk magazine’s Credit Risk Summit 2002, which opened in London today.
Implementing Basel II: the practical implications
180 risk professionals gathered in London last month to discuss the practical implications of implementing Basel II. National discretion, economic capital models and data collection and consistency were all hot topics at this PRMIA/ISDA-hosted event.
Banks advised to make Basel II views known in QIS 3
Banks would be wise to make their views on the complex Basel II bank capital accord known via the key QIS 3 survey due out on October 1, the UK’s chief financial regulator said today.
Nash joins the Royal Bank of Scotland
Ralph Nash, previously with the secretariat of the Basel Committee on Banking Supervision in Basel, Switzerland, joined the Royal Bank of Scotland (RBOS) in July as London-based Basel II operational risk co-ordinator for the RBOS group.
Banks clambering to set up FX shops in Boston
Bear Stearns and Royal Bank of Scotland are among a raft of international banks setting up forex sales desks in Boston. The banks are attempting to take advantage of the centre's established pensions and mutual funds client base, market participants told…
RBS acquires Mizuho team to expand securitisation business
The financial markets division of Royal Bank of Scotland (RBS) has hired three bankers from Mizuho Securities to expand its continental Europe securitisation team.
RBS launches new sterling-denominated CDO
The Royal Bank of Scotland (RBS) has become the next in a line of major European banks to launch a collateralised debt obligation (CDO) consisting entirely of leveraged loans in the European market. The new fund, named Cairngorm, has a high proportion of…
ABN Amro expands forex strategy team
Dutch bank ABN Amro is expanding its London foreign exchange strategy team by hiring Aziz McMahon, formerly a treasury economist with Ulster Bank, as a forex strategist.
RBS boosts swaps team
The Royal Bank of Scotland (RBS) has hired Benoit Seguret as a senior interest rate swaps trader in its financial markets division.
Rolfe & Nolan removes Lodge as CEO
UK derivatives systems vendor Rolfe & Nolan has ousted its chief executive officer, John Lodge, as part of an effort to boost confidence among its customers and shareholders. The company, which has seen its share price plunge over the past two years,…