Lord Mayor pleads for end to bank fury

The Lord Mayor of the City of London has pleaded for an end to public fury against bankers.

Ian Luder, whose job is to represent the City, said recriminations must be replaced by an effort to rebuild confidence.

"People are furious, let down by bright people, bankers, regulators, non-executive directors, whom they once trusted but are now labelled as greedy or asleep at the wheel," Mr Luder told a City gathering. "I understand the feelings of anger, bewilderment and betrayal, but we do need to learn from the past and move on."

The row over Sir Fred Goodwin's £703,000 pension has brought public anger about financial excess to a head and left bankers complaining of a witch hunt. The Lord Mayor said banking was only part of the City, which also includes insurance, accountancy and legal services – and noted that they are all functioning properly.