Royal Bank of Scotland.

Financial News, July, 2001

The Guardian

The Royal Bank of Scotland's acquisition-hungry American operation is believed to be in talks to seal its 18th acquisition in 10 years.

If the talks are successful, they will allow Larry Fish, the chief executive of Citizens - Royal Bank's Boston-based arm - to make his first acquisition outside New England and expand westward into the Pennsylvania area.

The talks with Pittsburg-based Mellon Bank are thought to be in the early stages, and involve Citizens taking over the regional consumer banking arm of Mellon, which has assets of $13bn (E11bn).

The Daily Telegraph

Mellon has been reducing its branch network in the past few years and is seen as far more interested in its investment management business....