Suddenly impoverished, Mike is forced to forego university and a sparkling sporting future and take a lowly job at a City bank. But help is at hand; his indomitably suave and resourceful old school friend Psmith has been sent there too. So begins a battle of wits between Psmith and the City, and wit has always been Psmith's strongest suit.

Psmith carries solid, lovable Mike in his wake as he seduces the severe Head Of Post by scrupulous attention to the deeds of Manchester United. He subdues the tyrannical MD of the bank by haunting him at his club and disrupting political meetings as he attempts to get elected. And when Mike takes the blame for a mistake made by the kindly socialist Head Of Cash, Psmith is at his finest as he weaves a web of blackmail to save him with impeccable insouciance.