Barclays has turned to a raft of US firms, including Skadden, Arps, Slate, Meagher & Flom and Latham & Watkins, for its preferred legal advisers as its latest panel review sees the banking group cut its legal roster by around 30% and move to a streamlined two-tier system of ‘preferred’ and ‘approved’ firms.
Eversheds, TLT and Matthew Arnold & Baldwin (MAB) have also been appointed to Barclays’ preferred panel, which includes all 11 firms that were previously on its mainstream ‘general advisory’ panel, namely Addleshaw Goddard; Allen & Overy; Clifford Chance; DLA Piper; Freshfields Bruckhaus Deringer; Hogan Lovells; Linklaters; Simmons & Simmons; Cleary Gottlieb Steen & Hamilton; Shearman & Sterling; and Sullivan & Cromwell.
