Metro Bank completes panel review with Eversheds Sutherland and Linklaters among new appointments
UK bank adds five new firms for a five-year term
April 30, 2018 at 04:41 AM
2 minute read
Metro Bank has completed a review of its commercial legal panel, with five firms winning new spots on the eight-firm lineup.
The new additions are CMS, DLA Piper, Eversheds Sutherland and Browne Jacobson. The bank has also added Linklaters, which currently advises the bank on corporate matters, to its commercial panel.
Meanwhile, Addleshaw Goddard, Blake Morgan and Gowling WLG have been reappointed to the line-up.
The commercial panel was previously made up of Addleshaws, Blake Morgan, DWF, Gowling WLG and King & Spalding.
The review began in February and the panel will be in place from tomorrow (1 May) and run for five years.
Metro Bank said: "We have completed our review of our commercial panel, increasing the number of firms represented from five to eight. The larger panel is reflective of the bank's continued growth, since the last panel review in 2013."
At the start of this year the bank completed a review of its lending and securities panel, which saw nine new firms including CMS and Gateley win places on the 18-strong roster.
The bank's general counsel Sally-Ann James oversaw both reviews.
Previously, James was head of contract and commercial at The Co-operative Banking Group until 2010. She joined Metro Bank as GC in 2012.
Metro Bank has five panels in total including commercial, property, employment and litigation as well as lending and securities.
Set up in 2010, the bank has been known to go off-panel and uses Linklaters as one its main corporate advisers. The magic circle firm advised Metro Bank in 2016 on its £1.6bn float on the London Stock Exchange and its £400m equity capital raise prior to the float.
In January, CMS and Gateley were among nine new firms to have won places on Metro Bank's lending and securities panel.
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