London-based Newton, a global investment management subsidiary of The Bank of New York Mellon Corporation, also has offices in Edinburgh, Leeds and New York.
One of the reasons Mr Straw commissioned the Edwards report is that Jersey's regulatory system has recently attracted criticism from a group of international investors who lost money in an investment fraud, discovered in late 1993, involving the Jersey arm of Bank Cantrade, a subsidiary of the Union Bank of Switzerland.
On Friday, the Dutch Supreme Court announced its long-awaited ruling on the sale of LaSalle Bank, the U.S. subsidiary of ABN Amro, to Bank of America, saying the transaction did not require shareholder approval and could go ahead.
The suit, filed this morning in the Southern District Court of New York, says the bank and its subsidiary MortgageIT lied about the quality of its mortgages and lending practices so it could take advantage of a government program that provided insurance against the mortgages.
Now, with the blessing of federal regulators, GM can get financing via its own bank subsidiary at half the cost of what it would pay investors to take bonds off its hands.
Perhaps more importantly, its main operating subsidiary retains a long-term rating that would put it in the Championship rather than League One, although the short-term rating of this subsidiary has been downgraded by a notch, which the bank regards as of some significance.
Luxembourg will retain 33% of Fortis' local subsidiary and take 1.4% of the French bank.
But there's a catch: the RBS bid depends on LaSalle Bank , the American subsidiary that's just been promised to Bank of America, staying within ABN Amro.
But there's a catch: the RBS bid depends on LaSalle Bank , the American subsidiary that's just been promised to Bank of America (nyse: BAC - news - people ), staying within ABN Amro (nyse: ABN - news - people ).
UBS's Warburg Dillion Read subsidiary has been regarded as one of the more successful bank-owned investment banks, not least because its pre-merger parent, Swiss Bank, was ruthless about organisational change and was also willing to put the subsidiary in charge of all corporate lending.
However, customers of the Ulster Bank subsidiary witnessed the fallout affecting their accounts for even longer.
Its Union Bank of California subsidiary is the largest overseas franchise of any Japanese financial institution.
FORBES: Mitsubishi UFJ Financial Group -- A Megabank Window on Japan's Economy (1)
Its Comdirect subsidiary was originally a remote version of the retail bank.
Last year Mitsubishi-Tokyo UFJ, operating through the 100 percent subsidiary Union Bank of California, captured 13 percent of this business, placing it in first place.
Similarly, the directors of FleetBoston's fund subsidiary, Columbia Advisors, have not asked for the parent bank's resignation as fund manager.
NewAlliance Bancshares is the bank holding company of its wholly owned subsidiary, NewAlliance Bank.
Thus did the fortunate Mr Hall find his champion, and the First Horizon Home Loan Corporation, a subsidiary of First Tennessee Bank, find itself charged under New York law with unlawful collection and deceptive business practices.
First, what will be the marketplace impact of a guilty plea by a subsidiary of an American bank?
In October, the US government sued the bank for alleged mortgage fraud, accusing subsidiary Countrywide Financial of selling thousands of toxic home loans to Fannie Mae and Freddie Mac.
Banco Santander's U.S. subsidiary, Sovereign Bank, for instance, represented 6% of Santander's profit in the year ended Dec. 31.
Analysts suggest the likeliest outcome is a merger between Southern Life and Momentum Life, a subsidiary of Rand Merchant Bank.
In 2012, Bank of Cyprus PCL, the largest Cypriot bank, converted its U.K. branch into a subsidiary under pressure from U.K. authorities.
In 2009, the Royal Bank of Scotland moved its North American operations to Stamford, including its RBS Greenwich Capital subsidiary.
Meanwhile, in further signs of nervousness about the Greek economic situation, French bank Credit Agricole has taken control of assets owned by its Greek subsidiary, Emporiki Bank.
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