“A fantastic firm,” said one of the judges of Uria Menendez. Another member of the judging panel singled out a commitment by the Spanish law firm not to make redundancies in the face of the worst market conditions for a generation.

The eye-catching pledge was made by Uria’s co-managing partner, Jose Maria Segovia. In January 2009, he promised to “hire lawyers, pay the same salaries and not carry out redundancies”, adding that “if things do not work out well then the partners will just make less money”. The firm argues that its commitment to hold on to its staff has put it in a good position to emerge from the recession more quickly than other firms.