But slightly calmer waters have beckoned the end of a brief golden era as the body in charge of handling the Treasury’s involvement in the UK’s bailed-out banks has announced a four-firm panel for the sale of its stakes (see story).
The appointment of Allen & Overy and Herbert Smith to the prestigious panel should not come as a surprise, but Simmons & Simmons’ role will raise a few eyebrows.
Maybe it’s an example of the Government thinking outside of the magic circle box, or evidence of an increasingly ambitious firm recovering from a poor first half. Either way, Simmons will be crowing after beating off competition from 17 firms for its new role.
The end of an era for one firm equals happy days for another.