With bank lending constrained, the finance practices of major law firms have had to look elsewhere to find the credit providers doing the deals. Alex Newman speaks to some of the lawyers making inroads into the direct lending market, and asks how these relationships might be affected by increasing regulatory oversight
Over the last seven years, bank lending has plummeted in the UK, as it has around the globe. For law firms, while the period has been marked by a glut of regulatory and investigations work for banks, less lending has meant fewer deals and less work to be shared among the swathes of finance lawyers who relied on traditional banking relationships as a guaranteed source of mandates.
