The trick for any good leader is to get out when the going’s good. Current market conditions and the wave of favourable press the UK’s magic circle is receiving suggest that Messrs Tony Angel and Guy Beringer, who will both shortly retire from their firms,  may be hanging up their boots at precisely the right time.

Linklaters’ managing partner and Allen & Overy’s senior partner were looking suitably relaxed yesterday evening, when they shared a platform with UBS group general counsel Peter Kurer during an evening hosted by Legal Week at the May Fair Theatre in the West End that was chaired by Richard Susskind.