A&O replaces Freshfields on new-look L&G panel
Legal & General (L&G) has completed a review of its external legal advisers, with Allen & Overy replacing Freshfields Bruckhaus Deringer on the new-look panel. The 19-firm roster, which will advise the insurer over the next three years, includes Berwin Leighton Paisner, which retained its place on the panel despite relationship partner Vinay Veneik's resignation from the firm in January 2008 after questions were raised over mistakes made on property transactions.
January 19, 2009 at 05:37 AM
2 minute read
Legal & General (L&G) has completed a review of its external legal advisers, with Allen & Overy replacing Freshfields Bruckhaus Deringer on the new-look panel.
The 19-firm roster, which will advise the insurer over the next three years, includes Berwin Leighton Paisner, which retained its place on the panel despite relationship partner Vinay Veneik's resignation from the firm in January 2008 after questions were raised over mistakes made on property transactions.
Other firms to win places on the panel include Scottish duo McGrigors and Dundas & Wilson, as well as regional firms Wragge & Co and Beachcroft.
Freshfields, which advised L&G in 2005 when the insurer was investigated by the Financial Services Authority for the alleged mis-selling of endowment mortgages, is the only magic circle firm not on the panel.
Other firms to miss out include CMS Cameron McKenna, Norton Rose, Taylor Wessing and Clyde & Co.
It is understood that L&G will still use firms that are not part of the roster, but only in exceptional circumstances.
The review, which began in July, sees the insurer combine its advisers into one single panel, as opposed to the separate rosters it had previously used for property, investment management, ventures,
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