An Australian banker, caught on live TV looking at scantily clad photos of Victoria’s Secret model Miranda Kerr, will not lose his job, the bank said.

Macquarie Bank worker Dave Kiely was at his desk as a colleague was being interviewed about interest rates when the camera showed him apparently opening email attachments of nearly-nude photos of the model.

Australian Kerr, 26, who is engaged to Pirates of the Caribbean star Orlando Bloom, had said she hoped Mr Kiely would not lose his job.

Reports say she said: "I am told there is a petition to save his job, and of course I would sign it."

The bank said in a statement it had completed an internal review and Mr Kiely would keep his job.

"Macquarie and the employee apologise for any offence that may have been caused," the bank said.

Unaware that his colleague Martin Lakos was doing a live television interview about the Australian economy with the country’s Seven Network, Mr Kiely’s computer screen could be seen as he looked at the pictures.

At one stage, he turns and looks directly at the television camera and realises his actions have been caught.

On Thursday, Channel 10 news aired allegations that he had been set up, with one of the emails containing at the end: "Turn around now".

A website was created in London calling on readers to email Macquarie Group headquarters in Sydney with the words "Don't fire David Kiely".

"Whether set up or not, Kiely was really only guilty of being in the wrong place at the wrong time," stated the campaign to save him. "There but for the Grace of God . . ."

Video: Caught in the act