NBNK
 |
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| Public limited company | |
| Traded as | : |
| Industry | Banking investments |
| Founded | 2 July 2010 |
| Founder | Lord Levene & others |
| Defunct | 21 June 2016 |
| Headquarters | London, UK |
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Key people
|
Stephen Johnson (Chairman) |
| Website | www |
NBNK Investments plc was a UK-based financial investment company formed by Lord Levene and a consortium of senior business figures in 2010. The aim of the company was to build a new large UK retail bank primarily through the acquisition of other banks.
As of 2014[update] the company had failed to acquire any banking assets and had considered winding up as it had been unable to acquire any it had been interested in. However, after new investment from W.L. Ross in 2012 it continued to operate and in May 2014 said that it was still looking for potential acquisitions. By 2016 NBNK had still failed to acquire any target companies, and in June 2016 it entered voluntary liquidation.
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. The company name, NBNK, is a portmanteau of "New Bank" (NewBaNK), and the company website primarily used the colour purple.
The company was listed on the Alternative Investment Market of the on 20 August and has major advisers and investors on-board including Aviva, Invesco and F&C Asset Management. 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.
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Wikipedia