A team of Mishcon de Reya trainee solicitors has triumphed in this years Prospects Cup, a Sir Alan Sugar Apprentice-style business game.
Second year trainees Alex Rhodes, Simon Chadowitz, Ben Parry-Smith, Alicia Wilson and Jade Bale successfully managed their fictional business making a profit of 16.1m, some 4m more than the runners-up, a team of management trainees from chemicals business Croda Europe.
The members of the Mishcon team were newcomers to the competition but nevertheless beat more than 130 rival teams made up of graduates from all sectors of British industry, commerce and Government departments.
Wannabe lawyers have recently gained an impressive track record in the competition with CMSCameron McKenna trainees taking the trophy home in the previous two years.
Before that the previous win by a law firm was way back in 1997 when Lovell White Durrant, as City firm Hogan Lovells was then known, won. Newcastle-based Dickinson Dees trainees picked up the accolade in 1992 and 1994, and magic circle stalwart Allen & Overy won the game in 1991. In its inaugural year of 1990 the competition was won by budding British Gas employees.
Each team in the competition is in charge of a fictional manufacturing company that produces and sells its product in six different countries. Each week the teams met to decide how to manage their consultancy, marketing, R&D, pricing and transportation budgets.
Additionally, each team had to manage a 2m investment portfolio, which tested their investment skill and their understanding of the worlds major financial markets.