The suicide reported in France of wheeler-dealer Peter Catto removes one of the most colourful figures from the financial fringe. Whether it was obscure but complex shell company deals or the theft of £30 million from the Izodia group by business rogue Dr Gerald Smith, Catto was alleged to have played various roles, tangential or otherwise, in a series of City scandals.

He remained cheerfully resilient almost to the end. A friend recently saw him lounging in a particularly opulent Bentley waiting for the lights to change.

‘Who paid for your wheels, Peter?’ he called.

‘The shareholders, of course,’ came the complacent reply.