City chief dies after being hit by cyclist

Nick Bancroft was a year away from retirement when the accident happened just yards from his £2million Holland Park home.

He suffered fatal head injuries and died three days later. Mr Bancroft, 63, who was married with three adult children, was a respected investment manager who had worked in the City since graduating from Oxford and Stanford universities in the sixties.

He was crossing the road at 7.50am at the junction of St Ann's Villas and Royal Crescent as the cyclist turned into Royal Crescent.

Police have launched an investigation and are appealing for witnesses. The cyclist was interviewed by police but not arrested.

Mr Bancroft's son, Giles, said: "This is a terrible loss for the whole family, especially for our mother. Dad was an absolute rock for us and extremely kind and generous to all who knew him."

The family, who have lived in Holland Park for 30 years, have had hundreds of letters of condolence from friends and colleagues.

Mr Bancroft and two friends founded their own firm, Ely Fund Managers, in 1985, which invested hundreds of millions of pounds of clients' money. In 2001, they sold Ely to a continental bank which was itself taken over last year by Rathbones, the 265-year-old Mayfair wealth management company.

Mr Bancroft still worked for Rathbones as an investment director and was on his way to work in New Bond Street when the accident happened on Wednesday last week.

Rollo Duckworth, a friend and colleague for 14 years, said: "Ely was as close as a family firm and prided itself on staff loyalty. His secretary had been with him for 25 years. We are all devastated."

Last year there were more than 200 accidents involving pedestrians and cyclists in Britain, three of them fatal. Last month cyclist Chico Mwamba was convicted of careless cycling and fined £160 for knocking down a pedestrian at a crossing in Lewisham. The 76-year-old man subsequently died.

Careless cycling is not an imprisonable offence, though cyclists can be jailed for wanton and furious driving.

Any witnesses to the Holland Park accident are asked to call Sergeant Don Simpson on 020 7388 6806.