You can blame it all on Christopher Fildes, one of the best financial journalists of his generation. Ten years ago, some smart young people believed that there was a need for a lively – that eliminated 96% of the competition – newspaper targeted at professionals in the financial services industry.

A modest amount of capital had been raised and writers were required. Fildes, who had obviously turned down an offer, said: "Talk to Ian Kerr because he doesn't take many prisoners and he is always reliable about meeting copy deadlines."