It is almost beyond the mind’s eye: the very first equities research desk to cut and run from Corporate Travel Management’s impending 1H results inferno was the company’s house broker, Morgans of Eagle Street.

But then which shop would possibly know better? Morgans even shares a common “independent” (lol) director in Sophie Mitchell, her addition to Corporate Travel’s board standing as chairman Ewen Crouch’s first ostensible step to improving its governance standards. Comedy gold.