Criticising Goldman Sachs is a favourite sport in the City and on Wall Street. So it is inevitable that the bank’s move to allow top bankers to take as much holiday as they want has been met with widespread mockery. Wags suggest half-seriously that it is a cynical ploy to ensure that bankers actually take less holiday.

This is obviously unfair. Of course Goldman is genuinely trying to reduce over-working, as banks battle for talent and grapple with the backlash against the long-hours culture. But Goldman’s move highlights the challenges that firms face to improve working practices, which needs leadership from the top and fundamental cultural change. It also requires a consistency of message that Goldman and other banks are struggling to achieve.