The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
In an extraordinarily proactive move, Virgin Group is reviewing its legal panel after just over a year
While Virgin is not officially putting panel places out to tender until next year, the review could amount to "additions or dropoffs" of member firms.
Virgin set up its 11-firm panel last May. Before then, it had a core panel of four law firms for the central group and the business units used their own preferred firms. Virgin Group general counsel Helena Samaha is reviewing the panel to find out if the business units are happy with their allocated firms.
"If business units feel they're unable to get the kind of advice they need, there could be additions or dropoffs happening on the panel," Samaha said.
She added that, if additional expertise were needed, new firms would be required to go through the same rigorous tendering process that the 11 panel firms underwent last year.
Virgin will conduct a full panel review next year and plans to do so every two years after that. Samaha will conduct an interim review every six months. The Lawyer understands that some Virgin directors wanted the legal panel reviewed every three months.
Virgin is one of the few large retail groups that looks at its legal panel this regularly. Retail giant Kingfisher reviewed its panel in 2000 after not looking at it for over two years. Kingfisher takes nine months to review its panel, so it changes once every three years, said company secretary Helen Jones. The company does not undertake detailed interim reviews like Virgin.
"We have working reviews of the performance of individual law firms if something comes up," said Jones.