101-566: 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. The Act implements
202-520: A Bachelor's degree or higher. This compares to 91.1% and 37.9% nationally, respectively. Stamford is home to a branch of the University of Connecticut , commonly called UConn Stamford. Sacred Heart University also hosts a physician assistant studies program located on the Stamford Hospital campus. The city also used to host a branch of the University of Bridgeport . UConn Stamford's campus
303-458: A failure of an upgrade to payment processing software meant that a substantial proportion of customers could not transfer money to or from their accounts. This meant that RBS had to open a number of branches on a Sunday – the first time that they had had to do this. RBS released a statement on 12 June 2013 that announced a transition in which CEO Stephen Hester would stand down in December 2013 for
404-504: A combination company (paid and volunteer members), Long Ridge. Budgeting and districting of the various fire departments throughout the city had been unstable since 2007, due to an extended legal conflict between the volunteer departments and the Malloy administration. As of May 16, 2012, a decision was reached by the city's charter revision committee to combine the paid and volunteer fire departments into one combination fire department, known as
505-678: A condition of the British Government purchasing an 81% shareholding in the group, the European Commission ruled that the group sell a portion of its business, as the purchase was categorised as state aid . In August 2010, the group reached an agreement to sell 318 branches to Santander UK , made up of the RBS branches in England and Wales and the NatWest branches in Scotland. Santander withdrew from
606-492: A direct subsidiary of RBS, it provides credit trading, bonds, swaps and related financial services. In conjunction with RBS Group's acquisition of parts of ABN AMRO Bank (later RBS N.V.), the two firms' Tokyo branches were consolidated in 2009. The business was established as County Securities Japan in 1986; it became County NatWest Securities Japan in 1987, NatWest Securities Japan in 1995, Greenwich NatWest Securities Japan in 1998 and RBS Securities Japan in 2001, before adopting
707-507: A downtown with many tall office buildings. The F.D. Rich Company was the city-designated urban renewal developer of the downtown area in an ongoing, contentious project beginning in the 1960s and continuing through the 1970s. The company put up what was the city's tallest structure, One Landmark Square , at 21 floors high, and the GTE building (now One Stamford Forum), along with the Marriott Hotel,
808-555: A further sale would take place in late 2021 (bringing the holding down to 50.6%) and a sale in March 2022 reduced it further to 48.1%. Following a buyback by the NatWest Group in May 2023, the government reduced its holding in the company to 38.6%. Regulatory filings showed the government had reduced its holding to 34.96% by February 2024. The holding fell to 29.82% in March 2024. On 31 May 2024
909-771: A lengthy investigation by the Securities and Futures Authority. The bank's move into complicated derivative products that it did not fully understand seemed to indicate poor management. By the end of the year parts of NatWest Markets had been sold, others becoming Greenwich NatWest in 1998. NatWest Markets provides global market access to corporate and institutional customers, offering trading, risk management and financing solutions through its trading and sales operations in London, Singapore and Stamford and sales offices in Dublin, Hong Kong, San Francisco and Tokyo. Its activities are primarily related to
1010-654: A number of support functions. The NatWest Holdings segment comprises the retail banking division of the bank: the business operates in the United Kingdom and the Republic of Ireland under the NatWest, Royal Bank of Scotland and Ulster Bank names. Key subsidiaries include: This franchise serves high-net-worth customers. The key private banking subsidiaries and brands of NatWest Group that are included in this franchise are Coutts , Drummonds Bank and NatWest and RBS Premier Banking. This franchise serves UK corporate and commercial customers, from SMEs to UK-based multinationals, and
1111-556: A population greater than 100,000 that report crime statistics to the FBI. In 2015, Stamford reported three murders, 19 rapes, and 92 robberies. Crime in Stamford is much more controlled in comparison to cities with similar population size in Connecticut and nationally. Lower crime rates in Stamford are attributed to the city's robust economic growth in recent decades. Criminal cases are prosecuted by
SECTION 10
#17330852262101212-648: A series of transactions. In addition to its primary share listing on the London Stock Exchange , the company is also listed on the New York Stock Exchange . By the late 1960s, economic conditions were becoming more difficult for the banking sector. In response, the National Commercial Bank of Scotland merged with the Royal Bank of Scotland . The merger resulted in a new holding company ,
1313-518: A slumping share price and major loss of confidence, the bank fell sharply in the rankings, although in 2009 it was briefly the world's largest company by both assets (£1.9 trillion) and liabilities (£1.8 trillion). It was bailed out by the UK government via the 2008 United Kingdom bank rescue package . The government retained a majority share until 28 March 2022, held and managed through UK Government Investments . It has subsequently reduced its shareholding in
1414-564: A town in 1801, followed by Darien in 1820. Starting in the late 19th century, New York residents built summer homes on the shoreline, and some moved to Stamford permanently and started commuting to Manhattan by train. Stamford incorporated as a city in 1893. In 1950, the U.S. Census Bureau reported the city's population as 94.6% white and 5.2% black. In the 1960s and 1970s, Stamford's commercial real estate boomed as corporations relocated from New York City to peripheral areas. A massive urban redevelopment campaign during that time resulted in
1515-402: A year. The Consumers' Association chief executive, Peter Vicary-Smith, said: "This is a step in the right direction and a victory for consumer pressure." In November 2009, RBS announced plans to cut 3,700 jobs in addition to 16,000 already planned, while the government increased its stake in the company from 70% to 84%. In December 2009, the RBS board revolted against the main shareholder,
1616-519: A £50m loss had been discovered; this was revised to £90.5m after further investigations. Investor and shareholder confidence was so badly shaken that the Bank of England had to instruct the board of directors to resist calls for the resignation of its most senior executives in an effort to draw a line under the affair. The bank's internal controls and risk management were severely criticised in 2000 and its aggressive push into investment banking questioned, after
1717-467: Is a prominent beach and recreation area. It lies approximately 9 miles (14 kilometers) from Norwalk. Under the Köppen climate classification , Stamford has a temperate climate ( Cfa ), with long, hot summers, and cool to cold winters, with precipitation spread fairly evenly throughout the year. Like the rest of coastal Connecticut, it lies in the broad transition zone between the colder continental climates of
1818-610: Is also the largest city in the Western Connecticut Planning Region , and Connecticut's second-most populous city, behind Bridgeport . With a population of 135,470, Stamford passed Hartford and New Haven in population as of the 2020 census . It is in the Bridgeport-Stamford-Norwalk-Danbury metropolitan statistical area , which is part of the New York City metropolitan area (specifically,
1919-945: Is called the Board of Representatives. The forty members of the Board of Representatives are elected from twenty districts, with each district electing two representatives every four years, concurrent with the Mayor's term. Democrat Caroline Simmons is Stamford's current mayor. Notable Republicans from the city include former U.S. Representative Chris Shays , former Lieutenant Governor Michael Fedele , and former mayor Michael Pavia . Prominent Democrats from Stamford include current Attorney General William Tong , former two-term Governor Dannel Malloy , former Attorney General and incumbent senior U.S. Senator Richard Blumenthal , former Attorney General George Jepsen , former U.S. Attorney General and former mayor Homer Stille Cummings , Connecticut Supreme Court Justice Andrew J. McDonald , and Chief Justice of
2020-569: Is far more variable than summer weather along the Connecticut coast, ranging from sunny days with higher temperatures to cold and blustery conditions with occasional snow. As on much of the Connecticut coast and nearby Long Island, some of the winter precipitation is rain or a mix and rain and wet snow. Stamford averages about 30 inches (75 cm) of snow annually, compared to inland areas like Hartford and Albany that average 45–60 inches (110–150 cm). Although infrequent, tropical cyclones (hurricanes/tropical storms) have struck Connecticut and
2121-528: Is home to colleges and universities including UConn Stamford and Norwalk Community College . Stamford was known as Rippowam by the Siwanoy Native American inhabitants of the region, and the very first European settlers in the area also called it that. The present name is after the town of Stamford, Lincolnshire , England. The deed to Stamford was signed on July 1, 1640, between Captain Turner of
SECTION 20
#17330852262102222-532: Is located in Downtown Stamford , and its main building, reconverted from hosting a former Bloomingdale's store that had closed in 1990, opened in 1998. In 2017, UCONN Stamford opened a 300-student dormitory around the corner from the Stamford Campus on Washington Boulevard. Stamford Public Schools comprises 13 elementary schools , 5 middle schools , and 3 high schools. As of the 2022–2023 school year,
2323-630: Is on the New Haven Line of the Metro-North Railroad , the commuter rail system for northern metropolitan New York City. Stamford is the second-busiest station on the Metro-North system, after Grand Central Terminal , and serves as a major transfer point for local trains. Stamford Station is also the terminus of a Metro-North branch that ends in New Canaan , 8 mi (13 km) away, known as
2424-508: Is part of the Gold Coast . Stamford comprises approximately 45 distinct neighborhoods and villages, and two historic districts, including Cove , East Side , Downtown , North Stamford , Glenbrook , West Side , Turn of River , Waterside, Springdale , Belltown, Ridgeway, Newfield, South End , Westover , Shippan , Roxbury, and Palmers Hill. North of the Merritt Parkway is considered
2525-538: Is registered in Amsterdam and regulated and authorised by De Nederlandsche Bank . NatWest Markets Services India Pvt. Ltd. is registered as a service company with offices in Gurugram, Chennai, Delhi, Bengaluru and Mumbai. In 2020, NatWest Group announced that NatWest Markets would be refocused to support a more integrated corporate and institutional customer offering. This would mean a period of significant transformation for
2626-504: Is the largest provider of banking, finance and risk management services to UK corporate and commercial customers. It also contains Lombard entity providing asset finance to corporate and commercial customers as well as some of the clients within the Private Banking franchise. NatWest Markets is the investment banking arm of NatWest Group. It provides integrated financial solutions to major corporations and financial institutions around
2727-593: Is the only Connecticut EMS service accredited by the Commission on the Accreditation of Ambulance Services (CAAS). All SEMS units are staffed by at least one Connecticut-licensed paramedic. Stamford EMS responds to 14,000 calls annually. In Stamford, medical facilities include: Fire protection in the city of Stamford is provided by the paid Stamford Fire Department (SFD) and four all-volunteer fire departments—Glenbrook-New Hope, Belltown, Springdale, and Turn of River—plus
2828-465: Is to be a bank for UK customers", he added. On 22 April 2008, RBS announced a rights issue which aimed to raise £12 billion in new capital to offset a writedown of £5.9 billion resulting from credit market positions and to shore up its reserves following the purchase of ABN AMRO. This was, at the time, the largest rights issue in British corporate history. The bank also announced that it would review
2929-409: Is water. Stamford is the state's largest city by area. The population density was 3,101.9 inhabitants per square mile (1,197.7/km ) in 2010. The city is halfway between Manhattan and New Haven at approximately 38 miles (60 kilometers) from each; it is 79 miles (127 kilometers) from the state capital of Hartford . Stamford is near the southwestern point of Connecticut, on Long Island Sound ; it
3030-570: The 2000 presidential election ; William F. Buckley, Jr. , conservative commentator; and French Prime Minister Georges Clemenceau . Stamford has consistently received a perfect score from the Human Rights Campaign for LGBT-friendly policies since 2016. Stamford has a highly educated population. Per the American Community Survey from 2017 to 2021, 89.1% of adults aged 25 and older graduated from high school , and 52.3% have
3131-747: The Academy of Information Technology and Engineering . As of 2022, the Stamford School District's average SAT score was 990, below the state average. The city also has several private schools, including Villa Maria School, Bi-Cultural Hebrew Academy of Connecticut , King School , and The Long Ridge School. A not-for-profit agency, Stamford Emergency Medical Services (SEMS) provides pre-hospital emergency care in Stamford, Connecticut. SEMS also provides contracted paramedic intercept response to Darien Emergency Medical Services, located in Darien, Connecticut. SEMS
NatWest Markets - Misplaced Pages Continue
3232-644: The Ferguson Library , is one of the largest in Connecticut. The library also shows movies and has a used book store run by Friends of Ferguson Library. The library has branches in South End, Springdale, and the Turn of River sections of the city, it also has a bookmobile that runs daily to different neighborhoods. The Turn of River branch, officially called the Harry Bennett Branch, is the largest library branch in
3333-900: The Guinness World Record as the largest columnless trading floor in the world until surrendering that space in 2017. The building was sold after the bank downsized. The Royal Bank of Scotland moved its North American operations into Stamford in 2009, including its RBS Greenwich Capital subsidiary. The Harbor Point development, in the South End , is one of the nation's largest private-sector development projects. Many large retail stores, such as Design within Reach (also headquartered in Stamford), have moved in, along with multiple companies including ITV America , McKinsey & Company , Bridgewater Associates and Kayak.com . Stamford's public library ,
3434-606: The Independent Commission on Banking recommendation that domestic retail banking should be "ring-fenced" from riskier trading activities by 2019. The ring-fenced sub-group, NatWest Holdings , was created at the same time. To give it legal form, The Royal Bank of Scotland was renamed NatWest Markets in 2018; at the same time Adam and Company (which held a separate PRA banking licence) was renamed The Royal Bank of Scotland, with Adam and Company continuing as an RBS private banking brand until 2022. The NatWest Markets name
3535-498: The National and Commercial Banking Group being founded in 1968, with the merger formalised in 1969. The holding company was renamed The Royal Bank of Scotland Group in 1979 and became a public company in 1982. The late 1990s saw a new wave of consolidation in the financial services sector. In 1999, the Bank of Scotland launched a hostile takeover bid for English rival National Westminster Bank. The Bank of Scotland intended to fund
3636-474: The New Canaan Branch , and a part-time terminal of Shore Line East and Danbury Branch trains. Two smaller train stations in Stamford are Glenbrook and Springdale , both a part of the New Canaan branch . Commuter trains come into Stamford from all points between New London to the east and New York (Grand Central Terminal) to the south. The average nonstop commute is 47 minutes. Trains operate from
3737-572: The New Haven Colony and Chief Ponus. By the 18th century, one of the town's primary industries was merchandising by water, which was possible due to Stamford's proximity to New York. In 1692, Stamford was home to a less famous witch trial than the well-known Salem witch trials , which also occurred in 1692. The accusations were less fanatical and on a smaller scale, but they also grew to prominence through gossip and hysterics. New Canaan officially separated from Stamford when it incorporated as
3838-742: The North Stamford section of the city, encompassing its largest land mass though it is the least densely populated. North Stamford functionally and legally acts as one municipality with the city of Stamford. Stamford borders Pound Ridge , New York to the north, the Long Island Sound to the south, Greenwich to the west, Darien to the east, and New Canaan to the northeast. The city has islands in Long Island Sound: Cove Island , Grass Island, Greenway Island, Jack Island, and Cuties Island (also known as Vincent Island). Cove Island
3939-548: The Stamford Town Center and many other downtown office buildings. One Landmark Square has since been dwarfed by the new 34-story Park Tower Stamford condominium tower, and again by the Atlantic Station development, another Rich Company project in partnership with Cappelli Enterprises. Over the years, other developers have joined in building up the downtown, a process that continued through the 1980s and 1990s and into
4040-502: The preference shares in RBS that it had acquired in October 2008 to ordinary shares. This would remove the 12% coupon payment (£600m p.a.) on the shares but would increase the state's holding in the bank from 58% to 70%. On the same day RBS released a trading statement in which it expected to post full-year trading losses (before writedowns ) of between £7bn and £8bn. The group also announced writedowns on goodwills (primarily related to
4141-436: The school district serves 16,212 students, a slight increase over the previous year. Stamford Public Schools students come from a diverse array of backgrounds, mirroring the city's diversity. As of 2022, the majority of Stamford Public Schools students are Hispanic or Latino . 75 different languages are spoken at home by Stamford Public School students, with English , Spanish , Haitian Creole , Bengali , and Polish among
NatWest Markets - Misplaced Pages Continue
4242-554: The stock market crash of 1987 and involvement in the financial scandal surrounding the collapse of Blue Arrow . The Department of Trade and Industry report on the affair was critical of the bank's management and resulted in the resignation of several members of the board, including then chairman Lord Boardman . In the early 1990s, County NatWest merged with NatWest's treasury and foreign exchange divisions to form NatWest Markets. In 1996, NatWest Markets acquired private equity firm Hambro Magan . In 1997, NatWest Markets revealed that
4343-526: The takeover of Dutch bank ABN-AMRO ) of around £20bn. The combined total of £28bn would be the biggest ever annual loss in UK corporate history (the actual figure was £24.1bn). As a result, during the Blue Monday Crash , the group's share price fell over 66% in one day to 10.9p per share, from a 52-week high of 354p per share, itself a drop of 97%. RBS' contractual commitment to retain the 4.26% Bank of China (BoC) stake ended on 31 December 2008, and
4444-415: The " Big Four " English clearing banks, was significantly larger than either Scottish bank, it had a recent history of poor financial performance and plans to merge with insurance company Legal & General were not well received, prompting a 26% fall in share price. On 11 February 2000, The Royal Bank of Scotland was declared the winner in the takeover battle, becoming the second largest banking group in
4545-452: The British Government announced a further injection of funds into the UK banking system in an attempt to restart personal and business lending. This would involve the creation of a state-backed insurance scheme which would allow banks to insure against existing loans going into default, in an attempt to restore the banks' confidence. At the same time the government announced its intention to convert
4646-464: The British government. They threatened to resign unless they were permitted to pay bonuses of £1.5bn to staff in its investment arm. More than 100 senior bank executives at the Royal Bank of Scotland were paid more than £1 million in late 2010 and total bonus payouts reached nearly £1 billion – even though the bailed-out bank reported losses of £1.1 billion for 2010. The 2010 figure was an improvement on
4747-479: The City of Stamford. In the 2022-2023 fiscal year, Stamford Public Schools had a total operating budget of $ 301,843,542, provided by the City of Stamford. This represented 82.6% of its total revenue that year, with an additional 9.8% coming from federal grants , 7.5% coming from state grants, and 0.1% coming from other sources. Stamford's three public high schools are Westhill High School , Stamford High School , and
4848-512: The Commercial, NatWest Markets and RBS International customer businesses as a new operating segment. NatWest Group NatWest Group PLC is a British banking and insurance holding company , based in Edinburgh , Scotland. The group operates a wide variety of banking brands offering personal and business banking, private banking, investment banking, insurance and corporate finance . In
4949-504: The Connecticut Supreme Court Richard A. Robinson . Other notable politicians with Stamford roots include Carrie Clyde Holly , the first woman (along with two colleagues) elected to serve in a State Legislature (Colorado, from Pueblo County in the 1894 election) in U.S. history, Joe Lieberman , former Attorney General of Connecticut and Independent/Democratic U.S. Senator who was Al Gore 's vice-presidential nominee in
5050-538: The Harbor Point area, which is considered New Stamford. From 2008 to 2017, the city issued permits for 4,341 housing units. During the COVID-19 pandemic in the U.S. , many New Yorkers relocated to Stamford and its metropolitan area. According to the U.S. Census Bureau , the city has an area of 52.09 square miles (134.9 km ), of which 37.62 square miles (97.4 km ) is land and 14.41 square miles (37.3 km )
5151-669: The New York–Newark, NY–NJ–CT–PA Combined Statistical Area). As of 2023, Stamford is home to eight Fortune 500 companies and numerous divisions of large corporations. This gives it the largest financial district in the New York metropolitan region outside New York City and one of the nation's largest concentrations of corporations. Dominant sectors of Stamford's economy include financial management and real estate, tourism , information technology , healthcare , telecommunications , transportation , and retail . Its metropolitan division
SECTION 50
#17330852262105252-624: The Royal Bank of Scotland PLC (RBS) to acquire 100% of RBS Factoring GmbH, RBS's factoring and invoice financing business in Germany, for an undisclosed amount. The transaction is subject to a number of conditions, including regulatory approval. In January 2012, due to pressure from the UK government to shut down risky operations and prepare for tougher international regulations, the bank announced it would cut 4,450 jobs and close its loss-making cash equities, corporate broking, equity capital markets, and mergers and acquisitions businesses. This move brought
5353-573: The Stamford Fire Department. The Stamford Police Department (SPD) is Stamford's only police force, and has lost four officers in the line of service since 1938. The police force has about 280 sworn police officers making it the fifth largest police force in Connecticut after Hartford, New Haven, Bridgeport, and Waterbury. Most Stamford Officers were trained at the Connecticut Police Training Academy before patrolling in
5454-690: The Stamford metropolitan area. Hurricane landfalls have occurred along the Connecticut coast in 1903, 1938, 1944, 1954 (Carol), 1960 (Donna), Hurricane Gloria in 1985, and Hurricane Sandy in 2012. Stamford lies in USDA garden zone 7a. It averages about 90 days annually with freeze. Coastal Connecticut is the broad transition zone where so-called "subtropical indicator" plants and other broadleaf evergreens can be cultivated. As such, Southern Magnolias, Needle Palms, Windmill palm, Loblolly Pines, and Crape Myrtles are grown in private and public gardens. As in much of coastal Connecticut, Long Island, and coastal New Jersey ,
5555-604: The Stamford station between 4:43 a.m. (first departure to Grand Central) until 12:55 a.m. (last departure to Grand Central). Stamford also serves as a prominent station along Amtrak 's Northeast Corridor . The Acela , a high speed train service between Boston and Washington D.C., makes several daily stops in Stamford. Amtrak's higher-speed Northeast Regional (between Boston or Springfield, Massachusetts and Washington, D.C.) and Vermonter (between Saint Albans, Vermont and Washington, D.C.) also make plentiful daily stops in Stamford. Amtrak has facilities in upper level of
5656-529: The State's Attorney's Office, and Stamford is home to a State Superior Court, at 123 Hoyt Street, adjacent to the Stamford Police Headquarters. Stamford's cluster of corporate headquarters includes a number of Fortune 500 , Fortune 1000 and Forbes Global 2000 companies. In 2017, Stamford had four Fortune 500, nine Fortune 1000, three Forbes Global 2000 and one Fortune Global 500 company. Among
5757-408: The U.S. median age of 37.2. Composition of the population based on sex was 50.7 females to 49.3 males. According to Sperling's BestPlaces , 64.0% of the city's inhabitants are religious or religiously affiliated. The largest religious group in the city are Christians , followed by Judaism , Islam , and eastern religions including Hinduism and Buddhism . The largest Christian denomination in
5858-439: The UK after HSBC Holdings . NatWest as a distinct banking brand was retained, although many back-office functions of the bank were merged with the Royal Bank's, leading to over 18,000 job losses throughout the UK. In August 2005, the bank expanded into China, acquiring a 10% stake in the Bank of China for £1.7 billion, which it had sold by 2009. In 2005, the bank built a new international headquarters at Gogarburn on
5959-480: The UK government began the process of selling shares back to the private sector, reducing its ownership of ordinary shares from 61.3% to 51.5% and its total economic ownership (including B shares) from 78.3% to 72.9%. On 5 June 2018 the government reduced its ownership through UK Government Investments to 62.4% at a loss of £2 billion. In June 2008 RBS sold its subsidiary Angel Trains for £3.6bn as part of an assets sale to raise cash. In March 2009, RBS announced
6060-649: The UK) of new capital into Royal Bank of Scotland Group, Lloyds TSB and HBOS , to avert financial sector collapse. The government stressed, however, that it was not "standard public ownership" and that the banks would return to private investors "at the right time". Alistair Darling , the Chancellor of the Exchequer , stated that the UK government would benefit from its rescue plan, for it would have some control over RBS in exchange for £5 billion in preference shares and underwriting
6161-452: The United Kingdom, its main subsidiary companies are National Westminster Bank , Royal Bank of Scotland , NatWest Markets and Coutts . The group issues banknotes in Scotland and Northern Ireland. Before the 2007–2008 financial crisis , NatWest was very briefly the largest bank in the world, and for a period was the second-largest bank in the UK and Europe and the fifth-largest in the world by market capitalisation . Subsequently, with
SECTION 60
#17330852262106262-529: The bank should abandon the plan to sell the operation, and instead focus on initiatives to boost competition within business banking in the United Kingdom. This plan was formally approved by the European Commission in September 2017. On 14 February 2020, it was announced that RBS Group was to be renamed NatWest Group, taking the brand under which the majority of its business is delivered. On 16 July 2020
6363-478: The business, which would have a leaner operating model and would focus capital towards supporting the Group’s customers’ needs and increasing its focus on digital solutions. Alongside this, it was announced that it would be reducing its risk-weighted assets, managing down and optimising inefficient capital and activities. In 2022, NatWest Group announced the creation of Commercial and Institutional, which brought together
6464-451: The chief executive of the group, Fred Goodwin , offered his resignation and it was duly accepted. Sir Tom McKillop confirmed that he would stand down from his role as chairman when his contract expired in March 2009. Goodwin was replaced by Stephen Hester, previously the chief executive of British Land , who commenced work at the Royal Bank of Scotland in November 2008. On 19 January 2009,
6565-601: The city is the Roman Catholic Church , served by the Roman Catholic Diocese of Bridgeport . There are four synagogues in Stamford: Temple Sinai (Reform), Temple Beth El (Conservative), Congregation Agudath Sholom (Orthodox), and Young Israel of Stamford (Orthodox). According to FBI statistics in 2014, Stamford is the 16th safest of the 269 cities in the nation and well ahead of any in Connecticut with
6666-417: The city was West Indian . The median age was 37.2 in 2018, lower than the national average of 37.9. There were 54,513 housing units at the 2018 estimates and 50,847 households. The average household size was 2.53 and there were approximately 31,347 families living in the city. The owner-occupied housing rate was 46.6% and the renter-occupied housing rate was 53.4%. Stamford's median household income in 2023
6767-441: The city. Aside from Police Headquarters, located at 725 Bedford St., opened in 2019, in Downtown Stamford , SPD also operates substations in Stamford's West Side at Wilson St. and W. Main St., and at 1137 High Ridge Rd and Hope Street. The current Chief of Police is Tim Shaw since April 9, 2020, who was a police officer in Stamford before leaving to Easton, Connecticut and coming back to Stamford to become police chief. Stamford
6868-459: The closure of its tax avoidance department, which had helped it avoid £500m of tax by channelling billions of pounds through securitised assets in tax havens such as the Cayman Islands . The closure was partly due to a lack of funds to continue the measures, and partly due to the 84% government stake in the bank. On 29 March 2010, GE Capital acquired Royal Bank of Scotland's factoring business in Germany. GE Capital signed an agreement with
6969-474: The company announced that the rebrand would take place on 22 July 2020. The change took effect on 23 July 2020. The NatWest Group is likely to remain state-owned until March 2025, a deadline which the UK Treasury has announced for selling all government shares in the business. The government reduced its holding in NatWest to 59.8% in March 2021, losing the taxpayer £1.8bn, followed by a further sale in May 2021 bringing it to 54.8%. The government announced that
7070-417: The credit rating of 12 UK financial firms, including RBS, blaming financial weakness. In January 2012, there was press controversy about Hester's bonus—Hester was offered share options with a total value of £963,000 that would be held in long-term plans, and only paid out if he met strict and tough targets. If he failed to do this, it would be clawed-back. The Treasury permitted the payment because they feared
7171-406: The deal by selling off many of NatWest's subsidiary companies, including Ulster Bank and Coutts. However, the Royal Bank of Scotland subsequently tabled a counter-offer, sparking off the largest hostile takeover battle in UK corporate history. A key differentiation from the Bank of Scotland's bid was the Royal Bank of Scotland's plan to retain all of NatWest's subsidiaries. Although NatWest, one of
7272-511: The economic environment in the United Kingdom, Europe and the United States, deriving a substantial majority of its income from its operations in the UK. Established in 1981, US broker-dealer , Greenwich Capital Markets was acquired by Long-Term Credit Bank of Japan in 1988 and divested to National Westminster Bank in 1996. From 1998 until 2000, when NatWest was taken over by the RBS Group, it
7373-504: The financial institution "to return to private ownership by the end of 2014". For his part in the procession of the transition, Hester would receive 12 months' pay and benefits worth £1.6 million, as well as the potential for £4 million in shares. The RBS stated that, as of the announcement, the search for Hester's successor would commence. Ross McEwan, the head of retail banking at RBS, was selected to replace Hester in July 2013. On 4 August 2015
7474-468: The government announced a further £1.24bn worth of shares sold back to NatWest after a plan to sell to the public was frozen due to the 2024 general election ; this brought the government's ownership of NatWest down to 22.5%. By late July 2024, the shareholding had been reduced to 19.97%, and by late November 2024 it was down to 10.99%. NatWest Group is split into four main customer-facing franchises, each with several subsidiary businesses, and it also has
7575-428: The group in 2016 as a standalone business. The planned company would have traded as an ethical bank, using the dormant Williams & Glyn's brand. In August 2016, RBS cancelled its plan to spin off Williams & Glyn as a separate business, stating that the new bank could not survive independently. It revealed it would instead seek to sell the operation to another bank. In February 2017, HM Treasury suggested that
7676-552: The growing season is rather long in Stamford, averaging 210 days from April 8 to November 5 according to the National Weather Service in Bridgeport. Census data from 2020 showed the city of Stamford with a population of 135,470. This was a 10.5% increase from 2010. Census data also showed Stamford had surpassed New Haven's population, making it the state's second-most populous city, behind Bridgeport. In 2020,
7777-407: The issuance of a further £15 billion in ordinary shares. If shareholder take-up of the share issue was 0%, then total government ownership in RBS would be 58%; and, if shareholder take-up was 100%, then total government ownership in RBS would be 0%. Less than 56 million new shares were taken up by investors, or 0.24pc of the total offered by RBS in October 2008. As a consequence of this rescue,
7878-404: The larger companies with headquarters in Stamford are Charter Communications , Harman International , Synchrony Financial , Indeed.com , Webster Bank , United Rentals , Conair , Gartner , Henkel North American Consumer Goods , WWE , Pitney Bowes , ITT Inc. , Gen Re , NBC Sports Group , Nestle Waters North America , Crane Co. and Vineyard Vines . UBS ' Stamford trading floor held
7979-496: The loss of £3.6 billion in 2009 and the record-breaking £24bn loss in 2008. The bonuses for staff in 2010 topped £950 million. The CEO Stephen Hester got £8 million in payments for the year. Len McCluskey , the general secretary of Unite the Union , said: "Taxpayers will be baffled as to how it is possible that while we own 84% of this bank it continues to so handsomely reward its investment bankers." In October 2011, Moody's downgraded
8080-710: The most common languages. Per an April 2023 report by the Connecticut State Department of Education on racial imbalance in public school enrollment, none of the 10 Stamford School District schools studied had a racial imbalance of more than 14% compared to the school district at large. According to the Connecticut State Department of Education, in the 2004–2005 academic year, 42.7% of Stamford's public school students were economically disadvantaged, and 11.6% were students with disabilities. The supermajority of Stamford Public Schools funding comes from
8181-484: The new century. Since 2008, an 80-acre (32-hectare) mixed-use redevelopment project for Stamford's Harbor Point neighborhood has added additional growth south of downtown. The redevelopment plan included six million square feet (560,000 m ) of new residential, retail, office and hotel space, and a marina. In July 2012, roughly 900 of the projected 4,000 Harbor Point residential units had been constructed. New restaurants and recreational activities have come up in
8282-424: The northern U.S. and southern Canada to the north, and the warmer temperate and subtropical climates of the middle and south Atlantic states to the south. The warm/hot season in Stamford is from mid-April through early November. Late day thundershowers are common in the hottest months (June through September), despite the mostly sunny skies. The cool/cold season is from late November though mid-March. Winter weather
8383-447: The outskirts of Edinburgh, and was opened by Queen Elizabeth II and Prince Philip, Duke of Edinburgh . 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. Rivals speculated that RBS had overpaid for the Dutch bank although the bank pointed out that of the £49bn paid for ABN AMRO, RBS's share
8484-500: The possibility of divesting some of its subsidiaries to raise further funds, notably its insurance divisions Direct Line and Churchill . Additionally, the bank's stake in Tesco Bank was bought by Tesco for £950 million in 2008. On 13 October 2008, in a move aimed at recapitalising the bank, it was announced that the British Government would take a stake of up to 58% in the Group. The aim
8585-572: The present name in 2018. NatWest Markets N.V. traded as The Royal Bank of Scotland N.V. from the 2007 acquisition of ABN AMRO Bank until 2018. The business has been repurposed to provide continuity of service to EU customers following the UK's withdrawal from the European Union , commonly known as Brexit . NatWest Markets Asia Securities (Singapore) Pte. Ltd. was founded by ABN AMRO in 1987 and operated as The Royal Bank of Scotland Asia Securities (Singapore) from 2009 until 2018. NatWest Markets N.V.
8686-634: The racial makeup of the city was 49.3% non-Hispanic white , 14.1% Black or African American , 0.3% American Indian or Alaska Native , 8.6% Asian American , 3.2% from two or more races , and 27.2% Hispanic or Latino (of any race). 2020 American Community Survey estimates show that of the Hispanic or Latin American population, Guatemalans form the largest group (6.75% of the city's population), followed by Puerto Ricans (3.77%), Colombians (2.87%), Ecuadorians (2.42%), and Mexicans (2.38%). In 2018, 5.9% of
8787-471: The resignation of Hester and much of the board if the payment was vetoed by the government as the majority shareholder. After a large amount of criticism in the press, news emerged of Chairman Sir Philip Hampton turning down his own bonus of £1.4 million several weeks before the controversy. Hester, who had been on holiday in Switzerland at the time, turned down his own bonus shortly after. In June 2012,
8888-664: The sale on 12 October 2012. In September 2013, the group confirmed it had reached an agreement to sell 314 branches to the Corsair consortium, made up of private equity firms and a number of institutional investors, including the Church Commissioners , which controls the property and investment assets of the Church of England . The branches, incorporating 250,000 small business customers, 1,200 medium business customers and 1.8 million personal banking customers, were due to be separated from
8989-448: The shares were sold on 14 January 2009. Exchange rate fluctuations meant that RBS made no profit on the deal. The Scottish press suggested two reasons for the move: the need for a bank mainly owned by HM Treasury to focus scarce capital on British markets, and the growth possibility of RBS's own China operations. Also in March 2009, RBS revealed that its traders had been involved in the purchase and sale of sub-prime securities under
9090-452: The state. That branch also has a used book store run by Friends of Ferguson Library. Stamford is predominantly Democratic but not nearly as heavily Democratic as Connecticut's more urban cities like Bridgeport and New Haven . In 2008 , Democrat Barack Obama received 64.06% of the city vote to Republican John McCain 's 35.35%. Stamford is governed via the strong-mayor form of the mayor-council system . The city's legislative body
9191-526: The supervision of Fred Goodwin . In September 2009, RBS and NatWest announced dramatic cuts in their overdraft fees including the unpaid item fee (from £38 to £5), the card misuse fee (from £35 to £15) and the monthly maintenance charge for going overdrawn without consent (from £28 to £20). The cuts came at a time when the row over the legality of unauthorised borrowing reached the House of Lords . The fees were estimated to earn current account providers about £2.6bn
9292-847: The total number of jobs cut since the bank was bailed out in 2008 to 34,000. During 2012, RBS separated its insurance business from the main group to form the Direct Line Group , made up of several well-known brands including Direct Line and Churchill . RBS sold a 30% holding in the group through an initial public offering in October 2012. Further shares sales in 2013 reduced RBS' holding to 28.5% by September 2013, and RBS sold its remaining shares in February 2014. In October 2015, RBS sold its remaining stake in Citizens Financial Group , having progressively reduced its stake through an initial public offering (IPO) started in 2014. As
9393-614: The world. NWMs areas of strength are debt financing, risk management, and investment and advisory services. NatWest Markets Securities is a key subsidiary, operating in the United States . Stamford, Connecticut Stamford ( / ˈ s t æ m f ər d / ) is a city in Fairfield County, Connecticut , United States, 34 miles (55 kilometers) outside of New York City . It is the sixth- most populous city in New England . Stamford
9494-619: Was $ 106,552. The average household income was $ 161,829. The per capita income in 2022 was $ 58,297, the highest of any city in Connecticut. About 9.1% of the population was at or below the poverty line . In 2010, its population was 122,643. At the U.S. Census Bureau 's mid-year 2010 estimates, it grew to 122,902. Roughly 49.8% of the population was non-Hispanic white, 12.9% Black or African American, 0.2% American Indian or Alaska Native, 6.8% Asian, 1.6% from two or more races, and 28.3% Hispanic or Latino. The American Community Survey determined there were 46,396 households. The average household size
9595-420: Was 2.56 and the average family size was 3.15. The owner-occupied housing rate was 56.5% and the renter-occupied rate was 43.5%. The 2000 census determined Stamford had a population of 117,083. The proportion of the population under the age of 18 was 21.6%, age 18 to 24 was 7.8%, age 25 to 44 was 32.5%, age 45 to 64 was 25.0%, and 65 years of age or older was 13.1%. The median age of 37.1 was slightly lower than
9696-454: Was acquired by National Provincial Bank in 1962. The merchant bank acquired various stockbroking and jobbing firms, becoming County NatWest when the banking system was deregulated in 1987; it was later consolidated with corporate banking to form NatWest Markets. NatWest Markets acquired US-based Greenwich Capital in 1996 and became Greenwich NatWest following disposal of large parts of the business. The bank's expansion strategy hit trouble with
9797-784: Was formed in 1996 to facilitate the purchase. Based in Stamford, Connecticut , it specialises in fixed income arbitrage and other fixed income strategies. Renamed NatWest Markets Securities Inc. in 2018, it is Financial Industry Regulatory Authority registered and a member of the Securities Investor Protection Corporation . Registered in Hong Kong and regulated and authorised by the Japanese Financial Services Agency , NatWest Markets Securities Japan Limited operates through its Tokyo branch. Previously
9898-438: Was only £10bn (equivalent to £167 per citizen of the UK). Much later, the bank announced it was to scale back its international presence. "Let me spell it out very clearly: the days when RBS sought to be the biggest bank in the world, those days are well and truly over", Chief Executive Ross McEwan , who had been in charge of the bank for four months, said in unveiling plans to reduce costs by £5bn over four years. "Our ambition
9999-446: Was part of Greenwich NatWest under the joint management of co-chief executives Gary Holloway and Konrad "Chip" Kruger. Greenwich Capital Markets became RBS Securities (trading as RBS) in 2009, prior to which it had used the marketing name RBS Greenwich Capital. It is a direct subsidiary of RBS Holdings USA (until 2009, known as Greenwich Capital Holdings), whose direct parent is Delaware-registered NatWest Group Holdings Corporation, which
10100-560: Was previously used from 1992 to 1997, the remnants of which were absorbed into the Royal Bank of Scotland Group on the acquisition of National Westminster Bank in 2000. RBS Group was renamed NatWest Group in 2020. NatWest Markets' origins lie in County Bank, the merchant banking subsidiary of National Provincial Bank formed in 1965. The original County Bank was established in Manchester in 1862 and, in 1935, merged into District Bank , which
10201-401: Was to "make available new tier 1 capital to UK banks and building societies to strengthen their resources permitting them to restructure their finances, while maintaining their support for the real economy, through the recapitalisation scheme which has been made available to eligible institutions". HM Treasury injected £37 billion ($ 64 billion, €47 billion, equivalent to £617 per citizen of
#209790