Linklaters has sidelined Slaughter and May and Norton Rose to advise Old Mutual on the £210m disposal of its wealth management and broking company, Gerrard Management Services, to Barclays Bank.

Slaughters and City rival Norton Rose traditionally advise Old Mutual on corporate deals, but Linklaters was given a chance to prove itself with this transaction after head of corporate David Cheyne spent months developing a relationship with the first-time client.