GlaxoSmithKline's medicine man

Dingemans's answer is that he is 47, fancies a change of career and has long held an ambition to be finance chief at a big company. He is prepared to accept what Glaxo describes as a "significant reduction in remuneration". Unbelievable? No, merely unusual.

The appointment does not, as Glaxo was quick to insist, herald a return to the era of mega-mergers. That, too, should be accepted at face value. Chief executive Andrew Witty has been insistent that Glaxo does not need such distractions. Combining Glaxo and SmithKline was fiendishly tricky and, 10 years on, the company still finds costs to cut.

Instead, Witty is talking about "bolt‑on" acquisitions as he pursues his great goal of "de-risking" the company by lessening its concentration on "white pills" sold in the west. In translation, that means expanding in consumer healthcare, especially in emerging markets, and perhaps pursuing more arrangements like the pooling of HIV research with Pfizer.

Dingemans worked on the Pfizer deal so he knows something of what he's signing up to. That does not mean the switch will be smooth, of course. But there is joy in heaven over every investment banker who chooses to do a proper job. Just don't expect a rush.