When Quinn Emanuel Urquhart & Sullivan’s London office announced unchanged annual revenues last month it marked the end of an extraordinary era of rapid year-on-year growth.

In the decade from 2011, the office’s revenue had increased 452%, from £23 million in 2011 to £127 million in 2020. In 2021, the failure to continue such an upward trajectory was no doubt influenced by the departure of its competition litigation team as well as the unpredictability of the pandemic.