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The review was launched by DCUK general counsel Chrissi Evans because of her dissatisfaction with the quality of the legal advice she was receiving from City firms. She did not invite any large City firms to participate in the tender exercise.
Evans attacked City firms for being too expensive and for not treating DCUK as an important enough client.
“[City firms] have a high cost per hour, and because of their desire to do a perfect job, a small job became a very big job,” said Evans. “I didn’t feel we were clocked as a very important client. I want our advisers to be as enthusiastic about our products as I am.”
She also criticised City firms for their lack of commerciality and said sometimes their advice sounded like it came straight out of a legal textbook.