In the New Year, Clifford Chance is staging a partners’ meeting in London. In an effort to be helpful, we have written the following speech for the firm’s chief executive, Peter Cornell.

“OK, so we had a difficult set of financial results last year, and a bit of a profitability gap has opened up between us and our main UK-based rivals. We have also attracted some criticism for taking a breather on the expansion front after welcoming Tower Snow and his crew on the West Coast in 2002 (he’s the one over there in the Hawaiian shirt).