Financial Services
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TAUNTON, Mass. – The South Eastern Economic Development (SEED) Corporation recently made a micro loan to Newport Potters Guild to enable the small business to start a pottery and clay art gallery and create four new jobs. more
Royal Bank of Scotland Group Plc expects to post a “substantial” full-year loss after transferring 38.3 billion pounds ($61 billion) of its worst loans to an internal bad bank under government pressure. more
Citizens Bank President for Rhode Island and Connecticut Edward O. “Ned” Handy III, has left the Providence-based subsidiary of the Royal Bank of Scotland to become president and chief operating officer of The Washington Trust Co. more
BlackRock Inc. and Fidelity Investments will be studied by U.S. regulators who are in the early stages of reviewing whether asset managers pose a potential risk to the financial system. more
A New York City investment firm is investing more than $10 million in the Providence Biltmore Hotel to help complete a $13 million restoration project at the hotel. more
Citizens Bank’s mobile banking apps for the iPhone and Android platforms have earned Javelin Strategy & Research’s 2013 Highest Mobile Banking Smartphone Ratings award, following favorable reviews by customers in the Apple App Store and Google Play. more
(Updated, 2:35 p.m.) Allstate Insurance Company this week said it wants to add more than 30 new insurance agents in Rhode Island over the next year, revising expansion plans first announced in July 2012. more
The South Eastern Economic Development Corp. recently closed on six small-business loans to Rhode Island businesses, under the U.S. Small Business Administration’s 504 and microloan program. more
Brown University reported a 12.6 percent return on its investments for fiscal year 2013, up from a 1 percent return a year earlier, the university announced Tuesday. more
A financial analyst who follows TD Bank Group believes that a possible bid by the Canadian bank for the Royal Bank of Scotland’s U.S. subsidiary could face several roadblocks, the Philadelphia Business Journal reported Tuesday. more
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