25 October 2012

RBS legal panel slims down

The Royal Bank of Scotland's (RBS) UK legal panel has been trimmed down by 40 per cent, with a new roster of between 55 and 60 firms after the first review of its legal team since 2009.

By Megan Malloy

Among the firms appointed to the new group are Linklaters (RBS’ main corporate adviser), Freshfields Bruckhaus Deringer, Berwin Leighton Paisner, SJ Berwin,  Clifford Chance, Eversheds and Simmons & Simmons.

Shrinking roster

The new term will run for three years starting in January 2013. The review in June included an emphasis on legal process outsourcing, and firms were expected to demonstrate their capabilities in this practice, Legal Week reports. In addition to the shrinking roster, the number of sub-panels has been reduced from 13 to five. A new alternative provider sub-panel will also be instated, and will be a comprised of a medley of law firms and legal process outsourcing providers. RBS deputy GC John Collins told the magazine that RBS was looking to intelligently purchase legal services and buy the right service from the right supplier.

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