Marco Cillario: US firms are increasingly recruiting trainees as well, so there starts to be a competition for junior talent. Then the question is, what do US firms have to offer that UK firms cannot for junior talent, beyond more money?
Seamus Hoar: It is a different society; it is a different mindset. If you are an entrepreneurial type, US law firms are self selecting. Mike made the point that you are going to attract people who are driven and they are going to create client relationships. Consequently, a US platform recognises that in almost all cases and that is very satisfying because you can become extremely wealthy through your efforts. However, coming out of the Magic Circle, it is unlikely that you are going to be able to pick up a big chunk of business and bring it across.