OneSavings Bank unveils first legal panel
Bank awards panel spots to 12 firms following the appointment of a head of legal
March 27, 2015 at 08:39 AM
2 minute read
OneSavings Bank has unveiled its first legal panel following a tendering process led by its new head of legal.
Sam Roberts, the bank's head of legal, managed the tendering process, which resulted in OneSavings appointing a 12-firm strong panel and abandoning its previous informal adviser roster.
The change in the bank's roster of firms is understood to have saved it a six-figure sum.
The firms that have been appointed to the debut panel include Clifford Chance, Eversheds, King & Wood Mallesons, Squire Patton Boggs, Travers Smith, Shoosmiths and Ashurst.
The formal roster also includes Addleshaw Goddard, Rosling King, Shakespeares and offshore specialist firms Mourant Ozannes and Bedell Cristin.
A variety of different size and type of firms were selected in an effort to avoid conflicts of interest.
The panel is divided into groups, with a maximum of four firms per group. The groups include general service, consumer lending, corporate advisory/corporate M&A, employment and the Channel Islands.
Before his appointment at the bank, Roberts was an associate at SJ Berwin, originally joining OneSavings as a secondee.
The bank's in-house team includes four lawyers, a paralegal and a trainee. Roberts works with OneSavings' general counsel and company secretary, Zoe Bucknell.
Davis Polk & Wardwell and Ashurst advised on the bank's initial public offering in June last year, which valued it at £413m.
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