Karen Cook, a key figure in almost every major UK takeover battle of the past decade, was given the chance to fast-forward her career in banking in part because Schroders, then almost exclusively male, was keen to hire female bankers in an effort to modernise.

It is ironic then that she got to the top - and has stayed there - by embodying old-fashioned City concepts such as loyalty to the client; loyalty to the employer; and thinking long term.