Mark Coombs got his timing spot on when he started Ashmore, the emerging market bond specialist, in 1999. Thanks to his £1.1bn stake, he is now the richest self-made UK financier, according to this year’s Sunday Times Rich List.

Peter Hargreaves (£1bn), co-founder of Hargreaves Lansdowne, the financial adviser, takes second place. Others include hedge fund managers Michael Hintze £550m) and Crispin Odey (£453m), plus moneybroker Michael Spencer.