With bean-counters at Slaughter and May now stuffing an extra 15% into the velvet-lined pockets of its lucky associates and Allen & Overy rolling out its revolutionary new greed-based remuneration system for junior fee earners, you might think fi rms across the City would be doing some serious managerial soul-searching. However, it seems the message has yet to filter through to the lower echelons of commercial law.

The head of one small but perfectly-formed practice brushed off concerns th at Slaughters might come calling to poach his best fee earners, telling The Diary with refreshing candour: “To be honest, we’re all so anal here we’re more worried about how many paperclips there are in the building than any management issues.”