Walker review urges reforms to bank pay

Top bankers could be forced to disclose their pay to the public under proposals designed to prevent another financial crisis, according to a report published today.

The pay, bonus and pension details of anyone earning more than the average boardroom executive salary would be revealed in “bands” under plans to increase transparency, outlined in an interim report by Sir David Walker, a senior adviser to the US bank Morgan Stanley and former executive director of the Bank of England. But individuals would not be named and salaries would not be capped, as some bankers had feared.