Paul Kavanagh from the investment firm Killik and co. said that new plans to cap bankers' bonuses will "create a very uncompetitive environment for many banks."
Speaking to Daybreak he added: "Not all pay is irresponsible pay."
As part of a financial reform package, ministers will consider a provisional proposal pushed last week by MEPs and backed by the European Commission.
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The government has announced plans to ensure staff receive tips left by customers in bars and restaurants.
Tens of thousands are having do not resuscitate orders imposed without families' consent, according to the Royal College of Physicians.
The prime minister has said the debate over Britain's EU membership has affected his long-term friendship with the mayor of London.