Idly dabbling in classical physics as we do on a Wednesday, we note with pleasure that both David Childs and Wim Dejonghe are embracing Newton’s First Law with gusto.
Which is that a firm in motion will not change its velocity unless something really humungous – a mass raid by Weil Gotshal, say – acts upon it. And so the edgier half of the magic circle, like red giants in a galaxy far, far away, keep slowly expanding.
Slowly is the key word here. Unless you find a whole bunch of random firms in former colonies to take over, big growth spurts are over, as the global 50 revealed. Clifford Chance’s revenues are up £22m to £1.219m and A&O’s up £70m to £1.12bn.
Looks like those Asian launchpads haven’t quite delivered acceleration yet, for which we can blame that pesky gravity. Or inertia, or something.
Still, the legal market will be throwing hats in the air at the news that average PEP is over a million at both firms. Because, frankly, PEP at £933,000 was just an embarrassment, wasn’t it?