The appointment is a major coup for Herbert Smith, which historically has not had strong ties with RBS. It is believed that the firm unsuccessfully tendered for a position on the bank's panel in January 2002.
Addleshaw Goddard, which also secured a place on the top-tier transactional panel, is also understood to have been appointed to RBS's general advisory panel for the first time, as first revealed on www.thelawyer.com (5 November). But Slaughter and May, which historically advised the bank on its own account work, dropped out of the tender due to conflicts.
In addition to the transactional and general advisory panels, RBS has also established litigation, property and recoveries panels. A&O, Denton Wilde Sapte and Stephenson Harwood are all understood to have won places on the litigation panel.
The Lawyer understands that other panel firms include Barlow Lyde & Gilbert, Scottish firm Dundas & Wilson, Masons and Richards Butler.
The new panels came into force on 3 November and will operate for three years.
RBS declined to comment.
Firms understood to be on the £100m+ deal panel Addleshaw Goddard Allen & Overy Ashurst Morris Crisp Berwin Leighton Paisner Clifford Chance Denton Wilde Sapte DLA Freshfields Bruckhaus Deringer Herbert Smith Linklaters Norton Rose