Senior banking executives are to use the World Economic Forum to get their message across

Banking executives will use the World Economic Forum meeting in Davos to lobby regulators against the introduction of Barack Obama’s plan to restrict the size and activity of banks, reported the Financial Times.

They will oppose the break-up of large banks, said the paper.

According to the FT the billionaire financier, George Soros, welcomed the president’s plan and said it “would certainly mean the end of Goldman Sachs as we know it”.

The UK’s chancellor Alistair Darling rejected the measures, said the FT.

See also: Obama plans to boost financial oversight

Read the FT story here