In an interview with the Guardian, the City minister said a review into how investment banking has “permeated “ society must be undertaken following this year’s general election.
He said: “Investment banking has spread into everything we do in business. Company executives spend more and more time with investment bankers. We need to re-examine an economic model that seems to work much better for investment banks than for businesses and workers.
“I think this is a suitable subject for a major independent review after the election into how investment banking has permeated so many corners of society.”
Myners also questioned the bonus culture in the banking industry, adding pay and bonus policies must incentivise smart decisions, not reckless risk-taking.