In his third book on the the history of the City of London, Philip Augar, the former chief executive of Schroder Securities, gives a vivid and cogent account of how the financial crisis of the past two years has its roots in the explosive growth in a “golden decade” from 1997 to 2007. Here he discusses the main themes of his new book, Chasing Alpha, with Financial News.

Q. Where will the impetus for fundamental structural change come from?