The sale was completed for an undisclosed amount, though RBS said it was 'not material', and will involve the transfer of up to £15bn of liabilities to BNP Paribas, which is already one of the larger employers in London where it runs much of its own investment banking business from.
In a statement RBS said: 'The proposed transaction is in line with the strategic repositioning and de-risking of the markets division of RBS Group as announced in 2013.'
About 200 staff are employed by the business and it is not known how many of these will be offered new roles by BNP Paribas.
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image: © Elliot Brown