A UK report suggesting people from less privileged backgrounds are hindered when trying to enter or work their way up the investment banking industry has been rubbished by the vast majority of those working in it.

A range of bankers were quick to dismiss the findings of the publication of the Social Mobility Commission's report on September 1, which suggested that most investment banking divisions look for markers of middle or upper-class status when hiring and promoting staff, with an emphasis on confidence, speech patterns, behaviour and dress code.