Some of Wall Street's top bankers continued to use corporate jets for personal purposes even after their firms received multi-billion-dollar bailouts from the US taxpayer.

The latest blow to the reputations of the financiers is likely to infuriate President Obama, who has been openly critical of the bankers' perks.

Today it emerged that Morgan Stanley boss John Mack, Kenneth Lewis of Bank of America and former Citigroup head Sandy Weill made controversial flights in recent months. The Wall Street Journal reported the flights in detail, estimating that the cost of the trips ran into tens of thousands of dollars.

Although this is small beer compared with how much the banks have received in bailouts to prevent possible bankruptcy, it could still cause ructions in Washington.

Bank of America got a $45 billion injection of government funds. A spokesman for the Bank now says: "We are implementing a new policy under which personal use of aircraft will not be permitted."

Morgan Stanley, which got $10 billion it is in the process of repaying, says Mack has begun to reimburse the firm for his plane trips.

Weill, who made seven trips to a holiday home after Citigroup first began taking government cash, no longer uses company planes, said the bank.

Former Royal Bank of Scotland boss Sir Fred Goodwin yesterday agreed to cut his controversial pension entitlement in half. He still gets £342,500 a year.