We all recall that Barclays had a joyful wealth and private banking partnership back in the day, where advisers happily cohabited with each other all day under the kindly eye of Tom Kalaris. The bank was so totally loved-up.

Why, it was a veritable Romeo and Juliet love-in. Then cruelly, the Montagues and Capulets at the top of Barclays parted these star-crossed lovers.

Ostensibly, this was in the interests of ring-fencing its domestic retail-based bank from the danger of disruption from the more volatile investment bankers’ business, and their jolly old ‘bet the house’ casinos.

Now, the relationship bet...