An investment banker led police on a 20 minute chase through the City of London after cutting up a patrol car on his bicycle.

Tanguy Marie De Carne, 53, jumped red traffic lights and rode on busy pavements through the City pursued by police during the 20 minute drama.

De Carne was told by magistrates he had done nothing to enhance the reputation of cyclists "held in low self esteem" when he appeared in court to admit charges of dangerous cycling and failing to stop for police.

De Carne, the global head of high yield capital markets at SG Corporate & Investment Banking, pleaded guilty to dangerous cycling and failing to stop for police at City of London Magistrates' Court today.

He ignored repeated police orders to stop during the chase on March 21 this year, the court was told.

De Carne was ordered to pay £2,460 in fines and costs.