In a cover story that was one of our most widely read articles last year, Chief European Correspondent Chris Johnson assessed how U.K. firms, particularly the Magic Circle, were performing in New York. The cover headline, “HELP!” (paired with, of course, an illustration of The Beatles), gives you a clue of what Johnson found. That is, after decades of work and millions of dollars, those firms had at best nibbled at the Big Apple market.

Well, fair is fair. In this issue, Johnson takes a look at how U.S. law firms are performing in London, a long-standing center for global business and finance.