Barclays introduces US roster to new-look legal panel

International firms have emerged as the winners of Barclays’ latest panel review, the results of which are released today.

Cleary Gottlieb Steen & Hamilton, Shearman & Sterling and Sullivan & Cromwell have been appointed to a new US sub-division of the bank’s general advisory panel, reflecting growth in the bank’s US activities and investment banking footprint.

The new subdivision follows the introduction of a US panel in 2010, but the bank has used its latest review as an opportunity to align US advisers with its UK counterpart.

The rest of the general advisory panel remains unchanged, with Addleshaw Goddard, Allen & Overy, Clifford Chance, DLA Piper, Freshfields Bruckhaus Deringer, Hogan Lovells, Linklaters and Simmons & Simmons all retaining their places.

The biennial review has also involved the creation of an investment banking and markets panel.

Group general counsel Mark Harding commented: “We entered the 2011 Barclays panel process with great optimism that it would provide us with a platform to test our existing firms on their commercial flexibility, allow us to explore some new firms and to create a UK/US law firm panel which allows us to leverage our scale.

“I’m delighted that at the end of an intensive three-month selection period we’re closing this review with a selection of firms which we will build strong and mutually beneficial relationships with.

“These firms have also responded well to our challenge to reduce the overall cost of delivering legal services to us whilst maintaining quality and risk management levels.”

Sources close to the process reported cut-throat bargaining and a stronger focus from Barclays on the international capabilities of firms.

“It’s the most hotly contested banking panel in the UK,” said one partner close to the panel process. “There was a lot of pressure to reduce the number of law firms and it was quite a rigorous process. There were lots of interviews and firms were required to compile an awful lot of information for them.”

He added: “A lot of companies like Barclays are going more international now and are involved in Asia, so they’re looking for firms with an international network.

“What came across to us was a real need for them to have an international aspect so you can deal with cross-border work, to have a standard and to be accountable.”

Barclays has also confirmed 15 specialist panels as part of the review process, which cover areas including commercial and IP, fiduciary, lending and finance, litigation and private equity and infrastructure funds.

Eversheds emerged as one of the winners of the process, increasing its number of panel spots from three to five, while Baker & McKenzie scored its first panel position, on the fiduciary panel, and Pillsbury was appointed to the commercial and IP panel.

The firm’s European chair of wealth management Ashley Crossley said: “We’re delighted to be appointed to the Barclays wealth panel, which showcases our client’s confidence in our international reach and exceptional service in wealth management.”

The bank previously have more than 50 firms on its roster, one of the largest panels among any of the major banks.

The group intends to review its other world legal panels during the second half of this year.

Barclays 2011 General Advisory Panel (July 2011 – June 2013)

Addleshaw Goddard LLP
Allen & Overy LLP
Clifford Chance LLP
DLA Piper LLP
Freshfields Bruckhaus Deringer LLP
Hogan Lovells LLP
Linklaters LLP
Simmons & Simmons LLP
Cleary Gottlieb Steen & Hamilton LLP (US)
Shearman & Sterling LLP (US)
Sullivan & Cromwell LLP (US)

The specialist panels, listed below, will run from July 2011 – June 2013.

Commercial & IP Panel

Amster Rothstein
Berwin Leighton Paisner
Bird & Bird

Cowan Liebowitz & Latman
Flowers Counsel Group
Hunton & Williams
Kemp Little
Latham & Watkins
McCarter English
Milbank Tweed Hadley & McCloy LLP
Pepper Hamilton
Pillsbury Winthrop
Stephenson Harwood

Corporate Real Estate Services (CRES)
(formerly Property Services)

Cumby & Weems
Eversheds
Moses & Singer
SNR Denton

Corporate Recovery Panel

Berwin Leighton Paisner
Eversheds
Matthew Arnold & Baldwin LLP
Osborne Clarke
Pinsent Masons
Salans
SNR Denton
Squire Sanders Hammond
TLT Solicitors

Employment / Human Resources Panel

Magrath LLP
Gibney Anthony & Flaherty
Kramer Levin Naftalis & Frankel
Littler Mendelson
Luboja & Thau

Fiduciary
(formerly Wealth Products)

Baker & McKenzie
Berwin Leighton Paisner
Burges Salmon
Charles Russell
Macfarlanes
Maurice Turnor Gardner
Withers Worldwide

Lending and Finance Panel

Ashurst
Berwin Leighton Paisner
Birketts LLP
Blake Lapthorn Solicitors
Bond Pearce
Cobbetts
Davenport Lyons
Dickinson Dees
DWF
EMW Law LLP
Eversheds
Mills & Reeve LLP
Norton Rose
Osborne Clarke
Pinsent Masons
Reed Smith LLP
SJ Berwin
SNR Denton
Squire Sanders Hammonds
Ward Hadaway Solicitors
White & Case LLP
Wragge & Co

Litigation Panel

Boies Schiller
Eversheds
Matthew Arnold Baldwin LLP
TLT Solicitors

Investment Banking and Markets (IB&M)

Panel will be accessed by Barclays Capital globally, by other businesses within the Barclays Group in relation to investment banking and markets work and, in relation to certain firms, by Barclays Wealth and Barclaycard in the US

Investment Banking and Markets – US and UK Firms

Andrews Kurth
Ashurst
Bingham McCutchen
Boies Schiller
Cadwalader Wickersham & Taft
Cahill Gordon & Reindel
Davis Polk & Wardwell
Dechert
Dewey & LeBoeuf
Greenberg Traurig
Herbert Smith
Hunton & Williams
K&L Gates
Katten Muchin Rosenman
Latham & Watkins
Mayer Brown
McDermott Will & Emery
Milbank Tweed Hadley & McCloy LLP
Morgan Lewis & Bockius
Norton Rose
Orrick Herrington & Sutcliffe
Paul Hastings Janofsky & Walker
Schulte Roth & Zabel
Sidley Austin
Simpson Thacher & Bartlett
Skadden Arps Slate Meagher & Flom
Slaughter and May
SNR Denton
Weil Gotshal & Manges
White & Case LLP
Willkie Farr & Gallagher
Wilmer Cutler Pickering Hale & Dorr

Investment Banking and Markets – Specialist Panels – UK

Commercial Real Estate

Berwin Leighton Paisner
CMS Cameron McKenna LLP
Eversheds
Pinsent Masons

Freight work/Shipping

Holman Fenwick Willan LLP
Ince & Co
More Fisher Brown

Private Equity and Infrastructure Funds

CMS Cameron McKenna LLP
Dechert
Eversheds
Maclay Murray & Spens LLP
Osborne Clarke
Pinsent Masons
SJ Berwin
Travers Smith

Barclays Wealth US

Bressler Amery & Ross
BuckleySandler LLP
Herrick Feinstein
Krebsbach & Snyder
Loeb & Loeb
Neal Gerber & Eisenberg
Parker Hudson Rainer & Dobbs
Vedder Price

Barclaycard US

BuckleySandler LLP
Morrison & Foerster
Morris Nicols Arsh & Tunnell
Reed Smith LLP

Northern Ireland

A&L Goodbody
Arthur Cox
Carson McDowell
McGrigors LLP
O’Reilly Stewart Solicitors
Tughans
Wilson Nesbitt Solicitors

Scotland

Aberdein Considine
Dickson Minto
DLA Piper (Scotland)
Dundas and Wilson
HBJ Gateley
Maclay Murray & Spens LLP
MacRoberts
McGrigors LLP
Morton Fraser
Paull & Williamsons
Pinsent Masons
Tods Murray