A British banker has been arrested in Hong Kong on suspicion of dangerous driving and causing death after he crashed his £380,000 Ferrari supercar, leaving a security guard dead.

Robert Ebert, head of Asian equities trading for Deutsche Bank there, has not been charged.

Police said they are investigating Tuesday’s accident in the Yau Ma Tei district of the ex-colony that resulted in the death of the man, 53, according to a statement.

It said a car driven by a 48-year-old "foreign man" collided with another car as it was entering a car park, before hitting barriers and the victim.

The South China Morning Post website said the trader’s black Ferrari 458 Spider was impounded at a government vehicle plant in Ho Man Tin.

The crash happened at the groundfloor entrance of the Waterfront car park in Austin Road, West Kowloon. A police source told the paper: “We are investigating whether the car was driving beyond the speed limit of 30km per hour at the time of the accident.”

According to police, the Ferrari ran out of control while taking a sharp right-hand bend. The source said: “It went straight into the Waterfront car park’s entrance, where it slammed into plastic barriers filled with water and allegedly hit the security guard.”

Flying fragments hit a Maserati sports car which was about to drive out of the car park, added the source.

The unnamed security guard, 53, suffered multiple injuries and was taken to Queen Elizabeth Hospital, where he was declared dead at 2pm.