Jim Slater was once the most influential figure in the City, and certainly one of the most feared. The godfather of “asset-stripping” – gaining control of a company then selling off its underperforming assets – he made and lost a fortune before reinventing himself as a children’s author. “I don’t deny asset-stripping, though the phrase is used as a smear,” he once said. “If a firm has its assets stripped it means they have not been properly used.”
Born in 1929 in Cheshire, he was brought up in Wembley, north London; his father was a builder. He attended Preston Manor County Grammar School, whose motto is “Duty before rights”. An able maths scholar, he was good at chess and collected stamps. He left school at 16 to train as an accountant, though somewhat half-heartedly. His training was interrupted by two years’ National Service, which proved a transformative experience. “In the Army, I met many no-hopers, going nowhere. It made me realise I must get down to it,” he told Hunter Davies in The Independent in 1992.