David Childs and Ted Burke must be hoping Linklaters’ incoming managing partner, Simon Davies, proves to be a miserable failure. Because judged on Linklaters’ 2006-07 financial results, it is going to take a major shock to slow down the City’s most successful top law firm of recent years.

The numbers – as seems fitting for Linklaters – tell much of the story. With revenues up £186m annually – equivalent to the entire annual income of an SJ Berwin or Denton Wilde Sapte – Linklaters has smashed straight through the symbolic £1bn fees barrier and then some.