NatWest Group, formerly Royal Bank of Scotland, is to cut around 130 jobs at its investment bank, pushing ahead with redundancies even as rivals pause restructuring plans amid the coronavirus turmoil.

NatWest Markets, which houses the remnants of a once-sprawling advisory and trading business, is in the midst of  a restructuring programme outlined by group chief executive Alison Rose, who has promised to create a “smaller, simpler business”.