Slaughter and May, Allen & Overy, Herbert Smith and Simmons & Simmons have all landed plum roles as key advisers to the UK Government on the winding-down of its stake in banks that were recapitalised during the financial crisis.
The much-discussed United Kingdom Financial Investments (UKFI) panel will predominately provide the appointed firms with capital markets work as the Government looks to reduce its interests in RBS and Lloyds.
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