‘It’s not that simple,’ says Julian, ‘and you know it, Cy. The old man died in the middle of all kinds of family-trust dealings. There are forty-two interested members. And as for our major client, Koopman’s, we have absolute discretion about what we invest in and have done for seventy years. We haven’t misappropriated their money at all, but placed it on interest-bearing deposits and warrants with the bank. It’s not the way we would have wanted to do things, but we had to avoid a run so they appear on the balance sheet as various deposits, but they have all come via legitimate banks and funds. The accounts for the fund will be published at year end plus a month or two for the Charity Commission to look at them. Our accountants have given interim approval for this. Actually it’s way less questionable than Lehman’s dodges which were signed off by Ernst and Young or what Northern Rock did. Look, Cy, we had to do something to keep the bank stable. If you destabilise us now, there will be a fire sale and no winners.’

‘Are you telling me that all those family members know you have taken – what is it? – two hundred and fifty million from the family trust? And are you saying that Koopman’s know you have set up some dummy deposits, via who knows where, in the bank?’

‘No Cy, I am not saying that. What I am saying is that strictly in terms of our covenants and statutory obligations, we are clean. I am not saying it’s the recommended way of dealing with the matter, but I am telling you that our balance sheet is legitimate. We’re one hundred per cent private. As my father said, many times, we should have stuck to what we know. We didn’t, and I regret it. I will always regret it. Our hedge funds were a disaster. But we’ve done what we could. We have done what we had to, to save one of our country’s oldest banks. You know that this is a great opportunity for you. You could also sink us in just a few weeks after three hundred years of history by spreading rumours, the rumours you have mentioned. Do you want that? Have you got something against me and my family? Koopman’s might lose everything. The family would certainly lose everything. If you choose not to believe me, we are walking. We have had a difficult time, and I am not prepared to play games.’

‘Hey, Julian, attaboy. I like that. But I have one condition.’

‘What’s that?’

‘I want you and Nigel to stay on for two years. I don’t want all those upper-class Oxford men taking their money out of the bank. It’s one billion one on the nose. Including the building.’

‘Done.’

They shake hands.