Investment banks should hire "poor, hungry" graduates if they want to stave off a crisis among junior bankers, which are rebelling against the long hours culture and stressful working conditions, according to Xavier Rolet, the former London Stock Exchange chief executive.

Rolet, who spent a decade in a trading role at Goldman Sachs from 1984 and a spell as global head of equities at Credit Suisse and Lehman Brothers, told Financial News that high pressure jobs in the sector are the "name of the game" and that juniors should leave if they don't want to work long hours.