It certainly hasn’t taken Jon Lewis long to make his mark on Capita. When he arrived as chief executive in December he established a new executive committee and launched a review of the business on the back of a profit warning.

The result of that review is detailed in an 18,000 word statement which can be boiled down to a £700m rights issue being used to fund the relaunch of the outsourcing giant, one focused on long-term planning and backed by investment in the infrastructure and resources required to support its scale.

The rights issues offers investors three new shares at 70p per share for every two existing shares, the price representing a 56 per cent reduction on Friday’s close.

Investors welcomed the move with shares climbing 13 per cent yesterday to 180.8p, but it is worth noting that the price was almost 900p as recently as January 2017.

With the public sector’s reliance on huge outsourcing groups in the spotlight since the collapse of Carillion, there will be increased scrutiny on Mr Lewis’ recovery plan – especially after booking one-off costs of £850.7m on writing-down acquisitions.

Mr Lewis even talked of his frustration at comparisons with Carillion. Yet while there are differences in the structure of the two groups, the fact Capita has had to turn to its investors means more questions will be asked over the strategy for public sector provision.