In the 1990s, the arrogance of the UK's largest investment houses was little short of breath-taking. Massimo Tosato still recalls the day nine years ago when he was hired to head Schroder Investment Management's Milan head office.

In the 1990s, the arrogance of the UK's largest investment houses was little short of breath-taking. Massimo Tosato still recalls the day nine years ago when he was hired to head Schroder Investment Management's Milan head office.