A generation of disaffected directors is growing within top investment banks. Promotions continue and some bonuses are still being paid, but for many it is not enough. The years when it was easy to move quickly up these institutions have well and truly passed and for those who remain, morale is at a low.

Headhunters and junior and senior members of staff at banks agree that directors - those typically with 10-15 years' experience - have become the industry's "lost generation".