The crisis that led to the collapse of Lehman Brothers sent shock waves through UBS, RBS, Morgan Stanley and forced the rescue of Merrill Lynch by Bank of America. Yet while thousands were laid off, many of the top participants have since emerged with new jobs and their reputations intact.

For senior executives, rainmakers and traders, the future looked decidedly bleak. They had failed in their primary and lucrative role of pricing risk correctly. Two years on and many of the biggest names from the institutions at the centre of the banking crisis have re-appeared elsewhere in the industry, proving that losses and even big mistakes do not necessarily end careers.