Teesside-born Murty played 339 times for the Royals over an 11-year period, captaining them to promotion to the Premier League in 2006.

BBC: Murty completes Southampton move

The Valiants had been a fixture in the automatic promotion places before heavy defeats at Gillingham and Rotherham during the festive period.

BBC: Three in frame for Port Vale manager's job

Gary Goldstein, co-founder and president of executive-search firm Whitney Partners, said many banks, particularly European ones, are examining levels of seniority within their ranks and lengthening the amount of time employees remain in senior vice president-level roles before getting the big promotion, resulting in firms paying more junior-level salaries for a longer period of time.

WSJ: Goldman Symbol Gets More Elusive