Deutsche Bank close to finalising global panel review with key advisers set to be reappointed


Deutsche Bank is nearing the completion of its latest global panel review, with a host of UK and US law firms expected to be reappointed.

The review, which is carried out every two years, is being led by Rose Battaglia, the bank’s New York-based global COO for legal and compliance, on behalf of co-general counsel Simon Dodds and Christof von Dryander, who have held the joint role since January 2016.

It is understood that Latham & Watkins, White & Case and Hogan Lovells will be reappointed to the panel, alongside a raft of firms named on the panel two years ago, including Freshfields Bruckhaus Deringer, Linklaters, Allen & Overy, Slaughter and May, Simmons & Simmons, Ashurst, Reed Smith, Herbert Smith Freehills, Shearman & Sterling and Clifford Chance (CC).

Last year, CC advised Deutsche on its £935m sale of Abbey Life to Phoenix Group, while Freshfields advised the bank as underwriter on Esure’s demerger of GoCompare via a London Stock Exchange listing.

Other US firms likely to maintain spots on the panel include Mayer Brown and Cleary Gottlieb Steen & Hamilton.

One partner at a panel firm said: “It’s one of those reviews we take very seriously – they are tough customers and smart customers, and we always want to make sure we get back on.”

Another source close to the review said: “Like any organisation, the bank was looking at rates and fees during the review, as well as terms and conditions.”

The last review in 2015, which was led by former general counsel Richard Walker, was dubbed ‘Project Eagle’.

Deutsche saw a number of departures from its legal team last year, including global head of strategy for legal, Emma Slatter, who left to set up as an independent consultant, and James Hooper, the bank’s head of legal for active asset management, who joined asset management fund J O Hambro Capital Management.

All firms contacted for this article declined to comment. Deutsche Bank declined to comment.