Legal & General in review of its UK external advisers

Legal & General (L&G) is in the throes of a full-scale review of its UK law firm panel.

Group head of legal Geoffrey Timms is overseeing the review, with firms already invited to pitch. It is understood that the review will encompass all areas of legal advice, including real estate, corporate and regulatory.

Timms confirmed the review was taking place but declined to comment further. “Yes, we’re conducting a review of our panel, but we’ll keep the firms involved confidential,” he said.

The insurer currently has relationships with a host of UK advisers. Slaughter and May has advised on a number of key corporate transactions, including last year’s £785.9m deep discount rights issue, the first in the UK in almost 20 years, and in May 2003 L&G’s £2bn euro note issue.

Lawrence Graham has won a raft of instructions in commercial property, including advising on L&G’s involvement in the £500m Bracknell regeneration scheme.

Eversheds’ L&G relationship partner Brian Hughes has been retained on general commercial, litigation and employment matters, while at Berwin Leighton Paisner Peter Rudolph advises largely on commercial real estate matters.

Other firms with an L&G relationship include Ashurst, CMS Cameron McKenna, Freshfields Bruckhaus Deringer and Macfarlanes.