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Banks

RBS Sempra Commodities CEO David Messer quits-RBS

LONDON, March 25 (Reuters) - The chief executive officer of RBS Sempra Commodities, David Messer, has resigned from the post, a spokesman for RBS said on Wednesday.

RBS Sempra Commodities is a joint venture between Royal Bank of Scotland RBS.L and Sempra Energy SRE.N. Messer became its CEO when the venture was formed last year.

The RBS spokesman said that Messer’s resignation did not indicate any change in commodities strategy for the bank, which is majority-owned by the UK government after being rescued with taxpayers’ funds.

“The commodities business is core to our strategy and there’s no change in strategy,” said RBS spokesman Piers Townsend.

RBS Sempra Commodities will seek a replacement for Messer, an industry source said.

Mark Snell, chief financial officer of Sempra Energy, and Jeremy Wright, chief administrative officer of RBS’s markets business, will run the venture jointly in the interim, the source said. (Reporting by Alex Lawler; Editing by Keiron Henderson)

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