Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


August 29, 2015 6:32 AM ET

Capital Markets

Company Overview of RBS Securities Inc.

Company Overview

RBS Securities Inc. operates as a security brokerage firm. The company provides asset-backed loans including mortgage, auto, and manufactured housing loans. It also offers trading and investment banking services. The firm was formerly known as Greenwich Capital Markets, Inc. and later changed its name RBS Securities, Inc. in April, 2009. The company was founded in 1981 and is based in Stamford, Connecticut with additional offices in Atlanta, Georgia; Chicago, Illinois; Irvine, California; San Francisco, California; and Washington, District Of Columbia. RBS Securities Inc. operates as a subsidiary of RBS Holdings USA Inc.

600 Washington Boulevard

Stamford, CT 06901

United States

Founded in 1981

Phone:

866-884-2071

Key Executives for RBS Securities Inc.

Co-Chief Executive Officer and Co-President
Co-Chief Executive Officer and Co-President
Age: 53
Founder
Age: 63
Managing Director and Associate General Counsel
Managing Director and Associate General Counsel
Compensation as of Fiscal Year 2015.

RBS Securities Inc. Key Developments

U.S. Subsidiaries of Nomura Holdings, Inc. Files an Appeal to the United States Court of Appeals for the Second Circuit

The U.S. subsidiaries of Nomura Holdings, Inc. have filed an appeal to The United States Court of Appeals for the Second Circuit. The United States District Court for the Southern District of New York issued a judgment on May 15, 2015, in the proceedings commenced by the Federal Housing Finance Agency, as conservator for the government sponsored enterprises Federal National Mortgage Association and Federal Home Loan Mortgage Corporation, against Nomura Asset Acceptance Corporation, Nomura Home Equity Loan, Inc., Nomura Credit & Capital, Inc., Nomura Securities International, Inc. and Nomura Holding America Inc., and RBS Securities Inc. as an underwriter. After consideration of the Opinion and Order on which the judgment is based, the Company's U.S. subsidiaries believe the District Court made significant legal errors and have determined to appeal. The Company's subsidiaries believe that their appeal has merit and intend to pursue it vigorously.

United States District Court for the Southern District of New York Issues Judgment against RBS Securities, Nomura Holdings, Inc and its Subsidiaries

On May 15, 2015, the United States District Court for the Southern District of New York issued a judgment in the proceedings against Nomura Asset Acceptance Corporation (NAAC), Nomura Home Equity Loan Inc. (NHEL), Nomura Credit & Capital, Inc., Nomura Securities International, Inc. and Nomura Holding America Inc., each a Nomura Holdings, Inc. and RBS Securities Inc. as an underwriter commenced by the Federal Housing Finance Agency (FHFA), as conservator for the government sponsored enterprises, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation (the GSEs) in September 2011. In September 2011, the FHFA commenced proceedings in the United States District Court for the Southern District of New York against numerous issuers, sponsors and underwriters of residential mortgage-backed securities (RMBS) and their controlling persons, including the company's U.S. subsidiaries. The action alleged that the GSEs purchased RMBS issued by NAAC and NHEL for which the offering materials contained untrue statements or omitted material facts concerning the underwriting standards used by the original lenders and the characteristics of the loans underlying the securities and sought rescission of its purchases. The District Court held, after a bench trial, that FHFA proved that the offering materials for certificates issued by NAAC and NHEL and purchased by the GSEs contained material misstatements entitling FHFA to rescission. The District Court ordered the defendants to pay $806 million to GSEs upon GSEs' delivery of the certificates at issue to the Defendants. The company will review the judgment and will consider all options, including appeal. This judgment is expected to have insignificant impact on the company's consolidated performance. Further notice will be released if any matters requiring disclosure should occur in the future.

Virginia Files Lawsuit against Barclays Capital Inc., Citigroup Global Markets Inc., Countrywide Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., RBS Securities, Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, WAMU Capital Corp., J.P. Morgan Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Inc

Virginia has filed a lawsuit seeking $1.15 billion in damages against 13 banks accused of misleading the Virginia Retirement System. The case stems from the sale of residential mortgage-backed securities to VRS from 2004 to 2010. The retirement system was forced to sell most of the securities, taking a loss of $383 million. The VRS was entitled to accurate information about the underlying mortgages when making decisions on how to invest taxpayer money and contributions by employees. Instead, these large banks purposefully included high-risk mortgages in securities and fraudulently misrepresented the quality of those loans to rating agencies and large investors like VRS. The case is the financial fraud action brought by the commonwealth and is the case ever brought under the Virginia Fraud Against Taxpayers Act. The banks named in the suit are: Barclays Capital Inc., Citigroup Global Markets Inc., Countrywide Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., RBS Securities Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, UBS Securities LLC, WAMU Capital Corp., J.P. Morgan Securities LLC (and as current owner of Bear, Stearns & Co.), and Merrill Lynch, Pierce, Fenner & Smith Inc. (and as current owner of Banc of America Securities LLC). The attorney generals office says that the banks offered the securities to VRS as stable, solid investments, but an analysis showed that nearly 40% of the 785,000 mortgages backing 220 securities purchased by the retirement system had a significantly higher risk for default. The suit charges that these banks knew, or should have known, that claims they made about the quality of the mortgages were false. The attorney generals office said a whistleblower, Integra REC LLC, discovered the fraud using sophisticated methods to match the securities purchased by VRS with the mortgages and properties they contained. The case is being handled by the civil litigation division of the attorney generals office.

Similar Private Companies By Industry

Company Name Region
Schwenk Harold S Jr Qualified Annuity Trust 1995 United States
Jones Lang LaSalle Capital Markets, Inc. United States
Blue Trading, LLC United States
MBC Investment Corporation United States
Fantex Brokerage Services, LLC United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact RBS Securities Inc., please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.