Sometimes, just sometimes, it is possible to feel slightly sorry for the people who run investment banks. They may get paid a lot of money, but most also want to be thought of as doing the right thing. And doing the right thing can be very tricky.

Take the vexed subject of recruitment. Most banks really are trying very hard to improve diversity — in part, admittedly, because of intense political pressure to do so. But despite their efforts they are constantly in the dock.