Silver circle tarnished as financials slide

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  • Maybe I should have been a bit more tactful. Doesn't change the fact that, now that all the leveraged nonsense of the last few years has dried up, the gap in quality between the magic circle and the silver circle is really starting to show.

    And I haven't been made redundant from my MC job. No point starting ad hominem attacks. I might as well declare all the posters who have replied to my post to be chip-on-shoulder MC castoffs now working at silver circle firms.

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  • I guess SJ Berwin just exited the Silver Circle for the rubber ring.

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  • Surely that means that BLP and Travers are to go too? Does this mean that Stephenson Harwood and DLA are now "silver circle"?

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  • The term "silver circle" was dreamt up by some journalist who no doubt thought he/she was being creative when I suspect the reality was much more a seemingly inexhaustible need to pigeon hole things into neat boxes. The phrase is meaningless, has no definition, no basis and I cringe everytime I hear it used. "Magic circle" fine - it's understood and accepted (except by Herbert Smith I suspect) as the UK law firm elite in the same way that the charmed circle is in the US. Once people get their head around that we can move on from this pointless debate about membership criteria.

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  • When will people stop saying that Herbert Smith is anywhere near the magic circle? They're nothing like the real MC firms. They're about half the size for a start.

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