The Royal Bank of Scotland Group has filed papers seeking to spin off its U.S. arm Citizens Financial Group in an initial public offering that could raise up to $4.6 billion.
Davis Polk & Wardwell corporate partners Nicholas Kronfeld and Luigi De Ghenghi in New York are advising Citizens Financial on the future float, according to an S-1 filing made late Monday by the Providence-based retail bank holding company, which operates Citizens Bank and Charter One Bank.
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