Bank bailout bonanza – Magic Circle firms ready to rumble
The £50bn bank rescue scheme has presented golden opportunities to City heavyweights. The partial ‘nationalisation’ of the UK’s banks is set to involve a number of firms in various roles for established clients. The roster of firms which looking to benefit from the government’s intervention in the banking crisis include Linklaters, A&O, Freshfields, Clifford Chance and Slaughter and May. Given the circumstances one can only expect that the fees will be under particularly heavy scrutiny… The field of play looks something …
The £50bn bank rescue scheme has presented golden opportunities to City heavyweights. The partial ‘nationalisation’ of the UK’s banks is set to involve a number of firms in various roles for established clients.
The roster of firms which looking to benefit from the government’s intervention in the banking crisis include Linklaters, A&O, Freshfields, Clifford Chance and Slaughter and May.
Given the circumstances one can only expect that the fees will be under particularly heavy scrutiny…
The field of play looks something like this:
Linklaters’ Robert Elliott is advising Royal Bank of Scotland (RBS) and its relationship partner Jeremy Parr is acting for Lloyds TSB.
Allen & Overy head of financial institutions Alistair Asher is understood to be advising HBOS.
Freshfields Bruckhaus Deringer is understood to have won a role for the Bank of England.
Barclays is understood to have turned to Clifford Chance corporate partner Guy Norman.
Slaughter and May partners Nigel Boardman and Nilufer von Bismarck are to represent the Treasury.
Let the games begin…
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October 9, 2008
about time,
some good news.
October 9, 2008
There may be some fodder to be picked off from this storm of s$*& that we are in but there can be no doubt that things are going to get tougher for us all