Standard Chartered, a banking group which seems to do strategic about-turns more quickly than Boris Johnson and pals think up a new Covid policy, is considering rolling up much of its private banking business in London.

Knowledgeable chums tell me that, potentially, the private banking booking centre in London will be run down. At the same time, the bank is eyeing the exit from regulated UK mortgage advice and curtailing parts of its discretionary investment portfolio management business. It will also cut its appetite for credit.