The 2008 banking crisis was the result of ‘a perfect storm of economic conditions’ (Lipton et al., 2008, p. 1) which included the subprime mortgage crisis, the property collapse, the liquidity crisis, market volatility and an accommodating accounting and regulatory environment. Most commentators also agree that corporate governance failings played a contributory role. In particular, there has been widespread criticism of the chronic and reckless risk-taking by management, which was fuelled by the banks’ remuneration policies. A myriad of reports and recommendations have identified these failings and proposed solutions to ensure that these same mistakes are not repeated.