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.

A reasonable person would have stopped immediately. It is a silent danger, coming up behind people - they have no idea. And, above all, it diminishes the really rather low esteem cyclists already have. People do not like cyclists, and you are doing nothing to enhance their reputation. Catherine Hobey-Hamsher, Chair of the bench

De Carne, who lives in St John's Wood, north west London, said it happened because he "panicked", and that he cycled home to relieve pressure from his fast-paced city job.

De Carne said he had taken part in a cycling safety course, and had tried to change his behaviour.