Mr Mayhew praised the council for supporting new businesses and for understanding their needs.

BBC: Tristram Mayhew

But this latest deal looks very good indeed, and Mr Mayhew's reputation, if not the bank's, thoroughly deserved.

ECONOMIST: Cazenove: Last of the line | The

Mr Mayhew and his fellow partners insist that changing the firm's ownership is not a signal that Cazenove wishes to cash in its chips by selling out.

ECONOMIST: Opening the doors

For Mr Mayhew, this deal looks a triumph of salesmanship.

ECONOMIST: Cazenove: Last of the line | The

Her new role as Mr Livingstone's City ambassador allows Ms Mayhew to combine her political ambitions with her financial experience.

BBC: City leader joins Livingstone's cabinet