A member of the Bank of England's interim Financial Policy Committee is expected to call on investors to help change banks' pay practices in a speech tomorrow, following a talk last month where he challenged the banks’ focus on raising return on equity regardless of the risk.

Robert Jenkins, who spent 16 years running bank trading rooms at Citigroup and 18 years in the asset management industry at Credit Suisse and F&C, where he was chief executive, told Financial News he was going to "launch an appeal to investors to help change the structure of bank pay practices".