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Former JPMorgan Cazenove chief Robert Pickering seemed relaxed, just back from Buenos Aires, as he mingled with aficionados for the relaunch of Jazz FM radio station by Aim-listed Local Radio Company's Richard Wheatley at Covent Garden club The Hospital. Mr Wheatley told guests it was “hell of a time to launch a radio station, but it's times like this that people will need cool jazz".

He could afford to be chirpy, as he sold Jazz FM in 2002 to the Guardian Media Group, which rebranded the stations to Smooth. He has licensed Jazz FM back from GMG as a digital station, and the FT is sponsoring the weekend breakfast show.

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