Sir Laurie Magnus found himself doing a double take at the International Underwriting Association's conference in Scotland last week.

The vice-chairman of Lexicon Partners and chairman of Ins-sure Services had agreed to be interviewed on television during the seminar.

But after several whiskys at the Gleneagles bar he soon forgot about his moment of fame. Around 2am the leading banker crept to his bedroom, only to find himself chatting away on Channel 5. After taking a few seconds to get over his initial shock, the knight of the realm did what most gallant people in his situation would have done. He quickly switched it off.