Slaughter and May has won out against a slew of City firms for the coveted role as legal adviser on the demutualisation of Standard Life.
The demutualisation will be the first time that Slaughter has acted for the company which undertook a review of its legal panel, beginning in March, in preparation for the mandate. Dundas & Wilson will act on the Scottish aspects of the deal.
Slaughter’s win will be a blow for the likes of Clifford Chance and Herbert Smith, both of which act for Standard Life. However, in a statement, Malcolm Wood, director of legal services at Standard Life said: "Clifford Chance are providing us with an excellent service and will continue to work with us on other matters."