Bankers working in Asia have overtaken their colleagues in Europe and the US to command the highest bonuses and salaries in the world, with top staff in the region earning close to £1.5m (€1.9m) each last year.

Shaun Springer, chief executive of Napier Scott, the recruitment company that conducted the survey, said the higher compensation packages paid to Asia-based employees were the result of intense competition for top staff and the region being less severely hit by the credit crunch.