The current panel ran from 1 July 2014 and ends 30 June 2016. DLA Piper has lost its spot following the global panel review and it is understood that Clifford Chance's role has been reduced.

The review was led by the bank’s head of commercial management Stéphanie Hamon, who joined last December from King & Wood Mallesons.

One third of previous number

It is believed that the total number on the bank's roster is around a third of the previous total of 350 – 400 firms, with a more even split between US and UK outfits that is said to better reflect Barclays' current business and legal spend. The bank selected five US firms – Boies, Schiller & Flexner; Cadwalader, Wickersham & Taft; Davis Polk & Wardwell; Latham & Watkins and Skadden Arps, Meagher & Flom – with whom it sought to 'deepen its relationship and concentrate spend over time.'

Source: Legal Business