The Royal Bank of Scotland (RBS) has held its annual international gourmet dinner in London, attracting a range of key figures from market. This year, RBS’s international trading solutions team welcomed representatives from Bank of China, Coutts, Corporate Risk Solutions, and International Service Network, part of the IBS group (a provider of financial services IT solutions).
Also in attendance was Sempra Metals, a future joint venture partner with RBS. Plans for the joint venture were announced in July this year, and the RBS-Sempra Commodities JV is set to be completed by the end of the year.
Through the partnership, RBS acquires a majority shareholding in Sempra Commodities, the commodities trading and marketing arm of Sempra, based in the US.
Sempra Commodities has become an established figure in the US market, and is experienced in trading in the oil and gas sector and aims to tap into RBS’s expertise in project finance via the joint venture.