Commercial banks
Royal Bank of Scotland (RBS) chief executive George Mathewson will travel to the US this week in an effort to win over US shareholders for its bid for National Westminster. The bank has registered its £21.8bn offer with the US Securities and Exchange Commission, allowing it to engage with
Commercial banks
Investors who purchased or acquired stock of four major companies between specific dates in the late 1990s may be entitled to participate in class action lawsuits. The cases, filed by the law firm Schatz & Nobel, P.C., allege that the companies and their officers engaged in various forms of
Commercial banks
Spector & Roseman, a Philadelphia-based law firm, has filed class action lawsuits against eight companies on behalf of shareholders who purchased securities during specified Class Periods. The lawsuits allege that the companies made false and misleading statements about their financial condition, earnings, and prospects, artificially inflating their stock prices. The
Commercial banks
Camco Financial Corporation, a multiple savings and loan holding company based in Cambridge, Ohio, has completed its acquisition of Westwood Homestead Financial Corporation, expanding its presence in the Cincinnati market. As a result of this acquisition, Camco gains access to Westwood Homestead Savings Bank's two offices in Cincinnati,
Commercial banks
Harold B. Gilkey, Chairman and CEO of Sterling Savings Bank, has appointed William R. Basom to the position of Vice President/Treasurer. Basom will oversee Sterling's Accounting Department and coordinate with the presidents of Sterling's subsidiaries, as well as the Treasury Department, to manage asset and
Commercial banks
Thailand is bracing for potential Y2K-related problems as the clock strikes midnight, with banks and experts taking measures to mitigate any effects of the Millennium Bug. According to Banthoon Lamsam, president of Thai Farmers Bank (TFB), the critical times to watch out for are 6 pm on December 31st, when
Commercial banks
Thousands of EFTPOS terminals were unable to process credit and debit card transactions on December 29, 1999, due to the change in the year, causing long tailbacks in many stores across the UK. The problem, attributed to a software glitch in the Racal EFTPOS terminals, resulted in many stores being
Commercial banks
Bank One Corp.'s head, John B. McCoy, is leaving after 15 years at the helm, sparking a surge in the company's stock amid rumors of a potential takeover. This move comes as consumers are on a buying spree, retailers are experiencing a strong holiday season, and
Commercial banks
Effective immediately, Bank One Corporation has implemented changes in its senior management and board of directors. John B. McCoy, chairman and chief executive officer, has retired, while John R. Hall, retired chairman and chief executive officer of Ashland, Inc., has been elected non-executive chairman of the board of Bank One.
Commercial banks
The chief executive of Royal Bank of Scotland, Sir George Mathewson, earned 70% more than his counterpart at Bank of Scotland last year, but almost the same as the former chief executive of NatWest. According to Royal Bank's report and accounts, Mathewson took home £836,000 in 1998,
Commercial banks
City analysts and competition authorities are watching closely as the Royal Bank of Scotland's bid for National Westminster is set to receive a verdict from the UK government by the end of the week. The official report into the bid has been passed to Trade Secretary Stephen Byers,
Commercial banks
NatWest's executive team questioned the leadership of Bank of Scotland after revealing a reversal of attitude by BoS directors during secret talks last Friday. The talks between the two banks at London's Savoy hotel raised serious concerns about Bank of Scotland's judgment. The proposal
