Chelsea killing: man held

Detectives investigating the knife murder of City financier John Monckton have arrested a key suspect.

The man was seized by officers in the street after an undercover operation. Dozens of police are now engaged in a huge manhunt across London for a second suspect.

Scotland Yard refused to release details of the man arrested last night for the murder of Mr Monckton, 49, and the attack on his wife Homeyra, 45, at their £3 million Chelsea home. He was being questioned about the killing at a central London police station today.

Mr Monckton, a director of financial giant Legal & General, and his injured wife were found by their nine-year-old daughter, Isabel, after the attack at their three-storey house in Upper Cheyne Row on Monday night.

The girl was in an upstairs room at the time of the attack but heard the commotion and rushed downstairs. It is thought the speed with which she dialled 999 saved her mother's life. Mrs Monckton is in hospital, her condition described as stable.

News of the arrest broke today as it emerged that it was Mrs Monckton who opened the door to the attackers after being tricked.

She is believed to have been reluctant to open the door when she heard a knock or a ring on the bell at about 7.30pm on Monday. She spoke to the callers for about 20 seconds before finally believing their story and opening the door, police sources revealed.

She was seriously injured after the two - described as youths by police yesterday - barged inside the half-open door. Her husband was attacked and murdered when he came to her aid in the hall. Detectives are now waiting to interview Mrs Monckton in hospital to find out exactly how she was tricked.

Murder squad detectives believe the incident was a bungled burglary. Neighbours said it was the latest in a string of assaults and robberies in the area, although figures show the number of break-ins in the Moncktons' local ward is falling.

Burglary, robberies and violent crime in Kensington and Chelsea in general are soaring. Last month robberies rocketed by 70 per cent.

The two men were seen by witnesses fleeing towards King's Road.

They are believed to have been filmed by CCTV cameras installed at a cost of £500 each by residents of Upper Cheyne Row after an assault in the church nearby left an official brain-damaged.

A neighbour said: "One was trained directly onto the Moncktons' front door."

Last year the residents also paid for a night security guard to patrol but it was considered ineffective.

Detectives are examining whether the intruders had been spying on the house, awaiting Mr Monckton's return.

They are looking into a similar attack three weeks ago on a wealthy family half a mile from the financier's home.

Three men forced their way into the house after persuading a member of the family to open the door. The gang, armed with a gun and knives, grabbed watches and jewellery worth £27,000.

Officers are trying to establish whether anything was stolen in the raid on the Moncktons' home. They have not recovered a knife. The attackers were between 5ft 3in and 5ft 6in tall, police said.

Today, police said Mrs Monckton, a former stockbroker, was recovering from surgery for her injuries at St Thomas' Hospital.

She was able to explain to her daughters, Isabel and 12-year-old Sabrina - who was away at the time of the attack - that their father had been killed.

Last night the headmistress of St Mary's Ascot, the Catholic girls' boarding school in Berkshire, confirmed that the Moncktons' elder daughter had been at the school at the time.

"We drove Sabrina back to London to be with her mother in hospital," said headmistress Mary Breen. "She was driven back by her head of house, who is a teacher charged with the pastoral care of the girls, so she is being very well cared for."

When asked about Mr Monckton, Mrs Breen was full of praise. "The school knew him well," she said. "We had a lot of contact with him. They were a lovely and supportive family. Our thoughts and prayers go out to his wife and children."

Residents planning Mr Monckton's memorial service are seeking an alternative venue since it is thought the local church, Our Most Holy Redeemer and St Thomas More, will not be large enough. Mr Monckton, who managed a division of Legal & General with assets of more than £26billion, was known as an "incredibly gentle and thoughtful man" by friends and family.

City experts also described him as one of the top three players in the corporate bond market. He was a cousin of Rosa Monckton, Princess Diana's friend.

The Archbishop of Westminster, Cardinal Cormac Murphy-O'Connor, said: "I am horrified at the news of the murder of an exceptional and faithful man. My heart goes out to his wife Homeyra and the whole family; they are assured of my thoughts and prayers."

Police said they still wanted urgently to hear from witnesses who saw anyone acting suspiciously in Upper Cheyne Row or nearby on Monday evening. They should call 020 8358 0400 or Crimestoppers, anonymously, on 0800 555 111.