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Barclays pushes flexible billing
The in-house litigation team at UK banking giant Barclays is taking innovative measures to combat the downturn, pushing its panel firms to offer more flexible-billing arrangements.As reported by…
Lawyers Weekly
The in-house litigation team at UK banking giant Barclays is taking innovative measures to combat the downturn, pushing its panel firms to offer more flexible-billing arrangements.
In addition to flexible billing, the bank is also attempting to ramp up its secondment program with panel firms, and is asking firms to provide top-level partners to take on secondments. Simmons & Simmons senior litigation partner Colin Passmore was the first to test-drive the new program, working part-time with the bank between January and April this year.
The changes have followed an internal shake up of Barclays in-house team, with Stephanie Pagni taking over from Jonathan Peddie as head of litigation on 1 April, and Peddie taking up a newly created role of director of litigation and special investigations.
In addition to these changes, the banking giant is currently reviewing its legal panel. It will be the first review since 2007. Firms currently on the bank's litigation panel include Simmons & Simmons, Freshfields Bruckhaus Deringer, Linklaters, Clifford Chance, DLA Piper, Allen & Overy, Hill Dickinson and Lovells.
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