Those who have made the reverse journey include Gavyn Davies, a former Labour adviser who became chairman of the BBC.

ECONOMIST: The future of the BBC

Certainly hedge funds have, just, outperformed a weighted basket of stocks, bonds and commodities which has fallen by 22%, according to Gavyn Davies, the co-founder of Fulcrum, an asset-management firm.

ECONOMIST: Hedge funds in trouble

BBC's chairman, Gavyn Davies, whether he drew any distinction between a broadcast that accused a prominent person of bribery and a broadcast that quoted a reliable source alleging that a public figure had taken bribes.

ECONOMIST: Politics