Quote of the week

"I am not a particular fan of global firms. We will probably get a better service from a smaller [firm] and a more focused approach for private companies."

– British Midland head of legal Tim Bye reveals that and the frantic international development carried out by expansionist City firms has all been in vain. Bye is dropping Clifford Chance as its corporate adviser in favour of smaller firm, Ashurst Morris Crisp.