Bonus balls

If George Osborne and David Laws want any tips on which sofas to look behind to find that pesky £163bn they need to plug the budget deficit they could do a lot worse than give Nick Thomas a quick bell.

Kennedys senior partner has managed to pull off that rarest of all political manoeuvres – the popular U-turn.

 Obviously unaware that we continue to be in the grip of the worst economic crisis since some bright spark in Weimar Germany decided it would be a good idea to print a trillion-mark banknote, Thomas has not only given his lawyers a tasty pay rise but also re-instated their bonuses (see story).

 Not content with showing the quintessentially unlawyerly quality of generosity, he even followed it up with a side dish of humility. “I got it wrong,” he told the astonished gals and guys at the insurance firm who, as we speak, are excitedly flicking through the Argos catalogue deciding how to spend their new-found wedge.

 Funny thing is, around this time last year Thomas claimed that the lure of a year-end bonus “does not motivate” his lawyers, who he presumably thought did it all out of the goodness of their hearts. Bless.
Also on Herbies & Slaughters back on track for the Pru; Trafigura ready to duke it out with Leigh Day; and the lowdown on the banking teams lining up for The Lawyer awards.