Tempers fray in the City over banking crisis 'gesture' panels
The Government’s much-derided record on legal procurement has come under fresh attack after it emerged that the panels set up in the wake of the banking crisis have generated little or no work for mandated City advisers. Allen & Overy (A&O), Herbert Smith and Simmons & Simmons were all appointed alongside Slaughter and May in November 2009 to advise UK Financial Investments (UKFI), the body managing the Government’s stakes in banks such as Northern Rock.
Bank crisis mandates fail to deliver while Rock sale goes off panel
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