Royal Bank of Scotland is to cut 3,000 staff from its global banking and markets division in the next few weeks as it presses ahead with its plans to downsize the business and reduce the leverage in its investment banking business.

The UK bank, which employs roughly 20,000 staff in global banking and markets following last year's takeover of Dutch bank ABN Amro, is to trim up to 15% of staff in the unit as it positions the business for the current market conditions, according to a source familiar with the plans.