Credit: bluedog studio/Shutterstock 3 Things Financial Institutions Should Consider When Negotiating With Outside Counsel
In this article, I'll outline some data points financial services companies should know as they review and hire legal counsel going forward, including some suggestions for negotiating lower rates.
June 08, 2022 at 01:10 PM
5 minute read
Expert Opinion
Financial services companies often rely on outside counsel for help in a wide range of areas, from litigation to banking operations. According to data from Wolters Kluwer ELM Solutions, financial institutions have historically paid the highest hourly rates of all industries, shelling out 10% more than the next closest (industrials). Since the majority of law firms have been charging more for their work recently, now is the perfect time for financial services companies to take a hard look at what they are paying their legal partners and why.
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