Guy Hands, one of the hardest taskmasters in private equity, is losing some of the most senior executives at his Terra Firma private equity house.

Those leaving Terra Firma - including Chris Roling, Riaz Punja and Ashley Unwin - were appointed by Mr Hands to senior positions within EMI, the music group he acquired last year for £4bn. Their departures were seen by some as a purge by Mr Hands of those responsible for a difficult deal.