Santander Refreshes UK Legal Roster
Various Magic Circle and international firms have been appointed to the roster following a review.
October 04, 2019 at 06:56 AM
2 minute read
Santander
Santander has updated its U.K. legal panel following a fast-paced review.
The banking giant kicked off a review of the line up about 12 weeks ago, according to one person close to the process, using its procurement arm Aquamina.
Firms were told last week whether they have been successful, according to one partner with knowledge of the review.
Magic Circle duo Linklaters and Slaughter and May have won places on the line-up, along with Ashurst, Reed Smith, Eversheds Sutherland and Simmons & Simmons, according to several people with knowledge of the process.
On the global bank's U.K. roster during its last review in 2017, Slaughters, Ashurst, Reed Smith and Eversheds won places.
Earlier this year, Ashurst beat 11 firms to a mandate advising Santander on attracting businesses to switch commercial accounts from rival RBS, as part of a government scheme to boost competition.
A&O advised Santander last month on its issuance of a so-called "end-to-end" blockchain bond – the first of its kind.
The bank is also known to have worked with firms including Taylor Wessing, Gowling WLG, Hogan Lovells, CMS, DLA Piper and Allen & Overy.
It is the second bank panel review in a matter of weeks. Last month Lloyds Bank refreshed its main legal panel. CMS was dropped from the main roster following a review by the banking giant.
The U.K. bank reappointed its other seven legal advisers to the main panel, which comprises Magic Circle firms Allen & Overy and Linklaters, alongside Addleshaw Goddard, Ashurst, Eversheds Sutherland, Herbert Smith Freehills and Hogan Lovells.
Santander declined to comment.
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