The global head of sales at Royal Bank of Scotland has stepped down, Financial News has learned. The senior departure is the second from the UK bank's markets business in a week.

Brian Reid, who is also a member of the executive team in RBS's markets and international banking division, stood down earlier this week, according to sources familiar with the situation. Reid joined RBS in 2008 and led the creation of its research and strategy team, focusing on the distribution of markets products to the bank's institutional clients.