Milbank Tweed, Hadley & McCloy has advised Dutch bank Rabobank on the settlement of fines worth €774m (£662m) following its involvement in the Libor fixing scandal.

Rabobank has agreed to pay the fines to the Dutch Public Prosecutor, the United Kingdom Financial Conduct Authority, the US Commodity Futures Trading Commission and the US Department of Justice, for manipulation of the Libor interbank lending rates.

Partner Julian Stait and special counsel Tawfiq Rangwala led the Milbank team from London while David Gelfand and James Cavoli led the US team.

Regulators found that 30 Rabobank employees were involved in "inappropriate conduct" between 2005-10.

In a statement the bank added that its chairman of the executive board Piet Moerland has resigned. Moerland said: "The public has to be able to trust that Rabobank employees operate with our core values in mind. That is why I have today decided that, as a matter of principle, it is appropriate for me to resign as Chairman of the Executive Board with immediate effect."

Rabobank said that it has launched a comprehensive package of measures to enhance compliance, reduce risk and improve culture.

Regulators have been investigating the manipulation of Libor inter-bank lending rates since 2012 in the wake of Barclays' £290m ($454m) fine by US and UK authorities.

Clifford Chance was instructed as UK counsel to Barclays alongside US firm Sullivan & Cromwell. CC's role for Barclays included advising the bank on its £59.5m settlement with the Financial Services Authority (FSA) – the largest-ever fine handed down by the UK regulator.