Barclays has added three US firms to its general advisory panel, following a comprehensive panel review intended to increase value for money from the bank's regular advisers.

Cleary Gottlieb Steen & Hamilton, Shearman & Sterling and Sullivan & Cromwell have been added to the bank's main general advisory panel after Barclays decided to include the creation of a US sub-division for the first time.

They join Addleshaw Goddard, Allen & Overy, Clifford Chance, DLA Piper, Freshfields Bruckhaus Deringer, Linklaters, Hogan Lovells and Simmons & Simmons, all of which were appointed to the roster when it was last reviewed in 2009.

In addition to adding a US sub-division to its main adviser panel, the bank has also created an investment banking & markets panel for the first time to reflect its investment banking footprint. Barclays will review its rest of the world legal panels in the second half of 2011.

Other firms to have won first-time appointments to the bank's various sub-panels include Bird & Bird, Baker & McKenzie, DWF, Herbert Smith, Holman Fenwick Willan, Ince & Co, Kemp Little, Mayer Brown, Stephenson Harwood and Withers Worldwide.

The bank has also formalised relationships with more than 20 US firms following its $1.75bn (£950m) acquisition of Lehman Brothers' North American investment banking and capital markets business in 2008.

Barclays' review, which was led by group general counsel Mark Harding, placed an emphasis on value for money, in terms of fee arrangements and value-added services such as secondments and training.

It was also the first time that Barclays incorporated Bribery Act compliance into its panel process. This included submitting details of corporate hospitality spending to ensure compliance with the Act, which came into force today (1 July).

Harding said: "We entered the 2011 Barclays panel process with great optimism that it would provide us with a platform to test our existing firms on their commercial flexibility, allow us to explore some new firms and to create a UK/US law firm panel which allows us to leverage our scale.

"I am delighted that at the end of an intensive three-month period we are closing this review with a selection of firms with which we will build strong and mutually beneficial relationships with. These firms have also responded well to our challenge to reduce the overall cost of delivering legal services to us whilst maintaining quality and risk management levels.

"Of course this is only the first step to enhancing our external delivery model. Now that we have finalised the panel we will continue to work with these firms to develop innovative tools and processes that will drive excellence to our business over the next two years."

One relationship partner commented: "This was an extremely comprehensive review which involved a tremendous amount of documentation. Instead of just asking firms to provide value-added extras, Barclays want us to come up with ideas about how to work innovatively whilst saving costs and outsourcing where possible."

For more, see Santander reviews UK advisers as Barclays quizzes panel on hospitality.

Barclays advisers – full details

General advisory panel

Addleshaw Goddard
Allen & Overy
Clifford Chance
DLA Piper
Freshfields Bruckhaus Deringer
Hogan Lovells
Linklaters
Simmons & Simmons
Cleary Gottlieb Steen & Hamilton
Shearman & Sterling
Sullivan & Cromwell

Commercial and IP panel

Amster Rothstein
Berwin Leighton Paisner
Bird & Bird
Cowan Liebowitz & Latman
Flowers Counsel Group
Hunton & Williams
Kemp Little
Latham & Watkins
McCarter English
Milbank Tweed Hadley & McCloy
Pepper Hamilton
Pillsbury Winthrop
Stephenson Harwood

Corporate recovery panel

Berwin Leighton Paisner
Eversheds
Matthew Arnold & Baldwin
Osborne Clarke
Pinsent Masons
Salans
SNR Denton
Squire Sanders Hammonds
TLT Solicitors

Employment panel

Magrath
Gibney Anthony & Flaherty
Kramer Levin Naftalis & Frankel
Littler Mendelson
Loboja & Thau

Litigation panel

Boies Schiller
Eversheds
Matthew Arnold Baldwin
TLT Solicitors

Lending and finance panel

Ashurst
Berwin Leighton Paisner
Birketts
Blake Lapthorn Solicitors
Bond Pearce
Cobbetts
Davenport Lyons
Dickinson Dees
DWF
EMW Law
Eversheds
Mills & Reeve
Norton Rose
Osborne Clarke
Pinsent Masons
Reed Smith
SJ Berwin
SNR Denton
Squire Sanders Hammonds
Ward Hadaway Solicitors
White & Case
Wragge & Co

Real estate panel

Cumby & Weems
Eversheds
Moses & Singer
SNR Denton

Fiduciary (formerly wealth products) panel

Baker & McKenzie
Berwin Leighton Paisner
Burges Salmon
Charles Russell
Macfarlanes
Maurice Turnor Gardner
Withers Worldwide

Barclays Wealth US

Bressler Amery & Ross
Buckley Sandler
Herrick Feinstein
Krebsbach & Snyder
Loeb & Loeb
Neal Gerber & Eisenberg
Parker Hudson Rainer & Dobbs
Vedder Price

Barclaycard US

Buckley Sandler
Morrison & Foerster
Morris Nicols Arsh & Tunnell
Reed Smith

Scotland

Aberdein Considine
Dickson Minto
DLA Piper
Dundas and Wilson
HBJ Gateley
Maclay Murray & Spens
MacRoberts
McGrigors
Morton Fraser
Paull & Williamsons
Pinsent Masons
Tods Murray

Northern Ireland

A&L Goodbody
Arthur Cox
Carson McDowell
McGrigors
O'Reilly Stewart
Tughans
Wilson Nesbitt

Investment banking and markets

Andrews Kurth
Ashurst
Bingham McCutchen
Boies Schiller
Cadwalader Wickersham & Taft
Cahill Gordon & Reindel
Davis Polk & Wardell
Dechert
Dewey & LeBoeuf
Greenberg Traurig Maher
Herbert Smith
Hunton & Williams
K&L Gates
Katten Muchin Rosenman
Latham & Watkins
Mayer Brown
McDermott Will & Emery
Milbank Tweed Hadley & McCloy
Morgan Lewis & Bockius
Norton Rose
Mayer Brown
Orrick Herrington & Sutcliffe
Paul Hastings Janofsky & Walker
Schulte Roth & Zabel
Sidley Austin
Simpson Thacher & Bartlett
Skadden Arps Slate Meagher & Flom
Slaughter and May
SNR Denton
Weil Gotshal & Manges
White & Case
Willkie Farr & Gallagher
Wilmer Cutler Pickering Hale & Dorr

The investment banking and markets panel includes three specialist UK sub-panels:

Commercial real estate, UK

Berwin Leighton Paisner
CMS Cameron McKenna LLP
Eversheds
Pinsent Masons

Freight work/shipping

Holman Fenwick Willan
Ince & Co
More Fisher Brown

Private equity and infrastructure funds

CMS Cameron McKenna
Dechert
Eversheds
Maclay Murray & Spens
Osborne Clarke
Pinsent Masons
SJ Berwin
Travers Smith

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