Shearman & Sterling can hardly be said to have entered the German market with a bang. A little more than a year after Germany’s historic reunification, it acquired the six-lawyer Duesseldorf firm Galler Meyer-Landrut & Thoma.

Observers would have been forgiven for failing to appreciate the significance of the move at the time. And yet the reverberations of the deal are still being felt in the German legal market some 14 years later.