Michael Dobson, the chief executive of Schroders, was today named as one of the members of Deutsche Bank’s new compensation panel that it has set up to scrutinise pay, as it continues to take a knife to bankers’ remuneration.

Dobson, an ex-Deutsche Bank banker, will be joined by four others, including the head of the panel Dr Jürgen Hambrecht, former chief executive officer of chemicals giant BASF.