The head of corporate and investment banking at Germany’s Deutcshe Bank has admitted that financial innovation played its part in bringing about the financial crisis, but said a healthy market for securitised products could now be a “powerful tool” to aid the global economic recovery.

Anshu Jain told 2,000 attendees at this week's annual Women on Wall Street conference in New York: "Innovation was fingered as one cause of the crisis and I agree that a high percentage of opaque, illiquid assets did as much cause to those creating them as those buying them."