On 1 May, I will take over as chairman of Norton Rose, a practice at which I have spent the last 35 years of my career. Many of my colleagues and contemporaries have remarked on the apparently unfortunate timing of my taking on the role, given that the headlines scream daily about the worst crisis of a generation – and possibly more – currently affecting the City and our clients.

I take a more positive view. There are clearly challenges for all of us in this economic climate, but I see a chairman’s role in helping the practice overcome these as both crucial, and two-fold.