Slaughter's Treasury Stranglehold Slips, Herbies and Lovells Get a Grip
Safe hands Slaughter and May has had a stranglehold on advising the Government since armageddon hit the banks two years ago. After the collapse of Northern Rock, Slaughters was seen as the only magic circle firm not conflicted because of ties to financial institutions. Although the Treasury is not the biggest payer, last year Slaughters received £22 million in fees assisting the Government wade through the financial mess and working for the Treasury has obvious kudos. Now that the initial …
Safe hands Slaughter and May has had a stranglehold on advising the Government since armageddon hit the banks two years ago. After the collapse of Northern Rock, Slaughters was seen as the only magic circle firm not conflicted because of ties to financial institutions. Although the Treasury is not the biggest payer, last year Slaughters received £22 million in fees assisting the Government wade through the financial mess and working for the Treasury has obvious kudos.
Now that the initial panic has passed, three places were put up for grabs by the Treasury on its legal panel. Herbert Smith and Lovells were chosen to join Slaughter and May giving them the opportunity to participate in high profile work advising the Treasury on implementing new banking legislation.
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November 4, 2009
Why did it take so long? Surely the Treasury had a responsibiltiy to get the best deal for the taxpayer asap.