One of UBS’s top London-based bankers was drafted in the by the UK Government to advise it on a £50bn (€32bn) rescue package for the country’s largest banks.

Robin Budenberg, who has managed UBS's relationship with the Treasury for several years, led a team of bankers from the Swiss group advising the government on the capital injection into banks including, Barclays, Lloyds TSB and Royal Bank of Scotland.