As a general rule of thumb making mergers work and repositioning law firms are not particularly speedy processes. But there are always exceptions to rules, and the pace of Berwin Leighton Paisner's (BLP) progress in the first 10 years after the 2001 tie-up between Berwin Leighton and Paisner & Co was very much one of them.

With an entrepreneurial approach that has led to its initiatives being copied years later by rivals and strongly led from the top by long-standing managing partner Neville Eisenberg, for years the firm could seemingly do no wrong. Its expansionist strategy helped it swiftly reposition from unexciting mid-tier to true City challenger. Even though internally one of the key drivers of its growth – a policy of hiring ex-magic circle and other senior names on above average PEP – was divisive at times.

What goes up quickly can come down just as fast though as the firm has shown with two drops in PEP in recent years. And of course, once money is affected, it doesn't take long for dissatisfaction to turn into departures, as BLP has also demonstrated all too often since 2013 – though in fairness to the firm many of those leaving did not do so voluntarily.