So, two grand old names of London private banking – Kleinwort Benson and Hambros, combined three years ago as Kleinwort Hambros – have reportedly been put up for sale by owner Societe Generale.

One’s first reaction is scathing: bloody French, how can they so casually discard such bastions of City banking? And only three years after making the big investment to form KH?

Well, good riddance and when Brexit happens, we can make a traditional Anglo-Saxon two-fingered gesture in the direction of Paris.

But we must be fair to our amis, les grenouille, although it does so pain us. Banking is an increasingly har...