Niall Ferguson, Eat’s managing director, reportedly tried unsuccessfully to cash in his (and his wife’s) 45% holding back in 2008. Eat is now valued at around £100 million.
Over the years the mainstream media has variously described Ferguson as an ex-investment banker or hedge fund manager. Neither description is true: he joined Bankers Trust in the early 1980s, and was a prop trader alongside the legendary Phil Davis before quitting to set up Eat in 1996, two years before the bank’s acquisition by Deutsche.
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