Natwest beefs up presence in US market after change in ring-fencing rules

Natwest is beefing up its presence in the US after rules on banks' overseas operations were loosened under reforms by former Chancellor Rachel Reeves.

The application for a representative office in the US followed changes to the UK’s ring-fencing rules.

The application for a representative office in the US followed changes to the UK’s ring-fencing rules.

Natwest has landed approval from the US Federal Reserve to beef up its presence on the other side of the Atlantic. The British banking giant has been granted permission to set up a “representative office” in Connecticut that will “act as a liaison with current and prospective US customers of the bank”. The approval doc