- NBNK
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NBNK Investments Type Public limited company Traded as LSE: NBNK Industry Banking investments Founded 2 July 2010 Founder(s) Lord Levene & others Headquarters London, UK Key people Gary Hoffman (CEO) Website www.nbnkinvestmentsplc.co.uk NBNK Investments plc is a financial investment company formed by Lord Levene and a consortium of senior business figures in 2010. The aim of the company is to build a new large UK retail bank primarily through the acquisition of other banks.
History
The company was formed by Lord Levene and a consortium of City executives as a vehicle to acquire UK banking assets in domestic banking and eventually wealth management. On 2 July 2010 the company was incorporated under the name of De Facto 9999 plc, and a month later on 2 August the company name was changed to NBNK Investments plc.[1] The company was listed on the Alternative Investment Market of the London Stock Exchange on 20 August and has major advisers and investors on-board including Aviva, Invesco and F&C Asset Management.[2][3]
People involved in the consortium include Peter Levene, chairman of Lloyd's of London, Sir David Walker who has been chairman of Morgan Stanley, Charles McCreevy former European Union internal markets commissioner and politician John McFall.[4]
In July 2010 it was reported that the nationalised British bank Northern Rock was a prime target for NBNK Investments.[2] UK Financial Investments Limited, owners of Northern Rock, have been briefed on the proposals.[5] On 4 November Gary Hoffman left Northern Rock to become CEO at NBNK Investments on 1 May 2011. Due to Hoffman's previous position NBNK Investments cannot table a bid for Northern Rock for a period of 12 months.[6]
In September 2011 NBNK announced that trading in its shares would be suspended until takeover talks with an unnamed bank had been concluded.[7]
References
- ^ "Contacts and Advisors". NBNK Investments Plc. http://www.nbnkinvestmentsplc.co.uk/contacts-and-advisors.aspx. Retrieved 2010-11-04.
- ^ a b "Big guns set their sights on Northern Rock". The Journal. 2010-07-09. http://www.journallive.co.uk/north-east-news/todays-news/2010/07/09/big-guns-set-their-sights-on-northern-rock-61634-26815171/. Retrieved 2010-07-11.
- ^ "City heavyweights aim to set up new bank". Financial Times. 2010-07-08. http://www.ft.com/cms/s/0/148c4a62-8a79-11df-bd2e-00144feab49a.html. Retrieved 2010-07-11.
- ^ Finch, Julia (2010-07-11). "John McFall joins consortium aiming to buy Northern Rock". London: The Guardian. http://www.guardian.co.uk/politics/2010/jul/11/mcfall-northern-rock-banking. Retrieved 2010-07-11.
- ^ "City bosses look to snap up banks". Press Association. 2010-07-08. http://www.google.com/hostednews/ukpress/article/ALeqM5gA850Vz326HFsqRFuNa9CIG1O8WA. Retrieved 2010-07-11.
- ^ "Directorate Change". Northern Rock. 2010-11-04. http://companyinfo.northernrock.co.uk/corporateCommunications/news/article.asp?newsID=358. Retrieved 2010-11-04.
- ^ "High Street banking venture NBNK in acquisition talks". BBC Online. 2011-09-06. http://www.bbc.co.uk/news/business-14803295. Retrieved 2011-09-06.
External links
Categories:- Companies listed on the London Stock Exchange
- Companies established in 2010
- Companies based in London
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