Since the crash, big changes have been made to how boards of directors operate in the financial sector. They may well answer a real need, but do they introduce new problems?

Take time commitment. In a typical, steady-state non-financial FTSE 100 board, a non-executive director might expect to spend two days a month on the role. Those chairing board sub-committees including the audit and remuneration committees might spend a little more, and an overseas board meeting can add to the annual total.