The tussle between corporate counsel and their advisers over fees can sometimes resemble the ongoing rivalry between two football teams. While the game itself is usually played in good spirit – although admittedly the Royal Bank of Scotland was accused of over-zealous tackling during last year’s bruising panel review – you can often tell who really has the upper hand by the managers’ off-the-pitch comments.
The current balance of power between adviser and client was neatly illustrated by the comments that accompanied a recent Legal Week Big Question survey that revealed that firms were planning to hike their charge-out rates. There was a time when such a finding would have prompted a cacophony of whinging from corporate counsel that only betrayed their frustration at their inability to do much about it. This time around, however, the response from the in-house community was more robust. MMO2 company secretary Philip Bramwell’s response was typical. “We shall simply be looking for more efficient staffing and deeper discounts on total bills,” he told Legal Week.
