Tricky things, panel appointments . Even if your firm does manage to secure a spot on a top-notch panel, it doesn’t guarantee that the big money will roll in.
With more corporates turning to the procurement department with the aim of cutting better deals, the whole process isn’t getting any easier.
Even when you’ve secured that all-important contract, there’s still the looming danger that you may be cut again at the next review, as Citigroup is threatening .
In planning a full-scale audit of its adviser roster, Virgin Group is stopping short of a formal panel review. Rather, it is taking time to check on those costly relationships.
It makes good business sense to keep control of costs, while making sure lawyers don’t get too comfortable with their mandates.
Also on TheLawyer.com :
- Norwegian company Sebastian Holdings has been ordered to pay £146m to Deutsche Bank after the High Court threw out an $8bn compensation claim against the bank
- Australian listed firm Slater & Gordon has confirmed that it is in tie-up talks with Pannone following months of silence from the firm about the top-level discussions.
- And in our in-house interview, G4S Risk Management general counsel Nick Economakis is guiding the business through a run of acquisitions while protecting the company’s current assets
PS – Know a mature student or career changer thinking of entering the legal profession? Lawyer 2B is holding its free ‘Not Too Late For Law’ event on Thursday 28 November.
This unique careers evening will comprise of a set series of informative seminar sessions, interactive workshops and informal networking with firms. Attendance is by invitation only: register at www.l2bnottoolateforlaw.co.uk .