Bunhill: Going for Broke

MY ATTENTION is drawn to Going for Broke, a new book by Russell Taylor, one-time City editor of the Observer and banker. In 1970, Taylor was involved, along with Rupert Raw, in setting up the Italian International Bank in London. Raw later took over and Taylor left. Now, in print at least, he has exacted his revenge.

'Disappointed in his hopes of becoming one of the four executive directors of the Bank (of England),' writes Taylor, 'Raw was promised the IIB succession . . .'

He continues: 'Raw was typical of the 'British imperial servant' . . . Small and wiry, he never wore, as I remember, anything but a pinstriped suit and an old Etonian tie so faded and dirty that it looked more like a bootlace.'

Raw has since died but his son Charles, himself a distinguished business journalist, is hopping mad. 'My father was offered a directorship of the Bank of England but turned it down.'