Royal Bank of Scotland (RBoS) is to create five specialist panels in place of its primary roster of legal advisers, with applicants this week streamed into the new sectors in the first round of the banking giant’s closely-watched review.
The shake-up will see RBoS’ panel divided into general legal, transactional, litigation, property and recoveries panels. Each individual panel will also be divided into regional or deal-size subgroups. The set-up is a major shift from the bank’s current 24-firm roster, which covers the bulk of RBoS’ legal work in one general pool of advisers.
