Few who have been following Nigel Knowles’ career will doubt his ability to make the firm’s merger with US outfit Piper Rudnick work on a logistical level. Given his track record, we can expect the combined firm to be well run, well marketed, have a consistent standard of client care and be staffed by ambitious, competent lawyers.

The firms’ flexible remuneration structures and the existence of regional profit centres suggest the sustained bloodletting of the type that has dogged Clifford Chance’s (CC’s) foray across the pond will not occur, although many would argue that the deal bears the same hallmarks of tough decisions deferred.