Dame Colette Bowe, the City of London’s standards chief charged with improving behaviour in the Square Mile, warned that banks face an "uncomfortable journey" towards regaining public trust as she unveiled the Banking Standards Board’s full line-up of board members.

The board, previously known as the Banking Standards Review Council, was set up last year at the recommendation of the Parliamentary Commission on Banking Standards following a litany of banking scandals. It aims to promote high standards of behaviour and competence.