Dentons wins first-time spot as Standard Chartered overhauls global legal panel

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Dentons and Eversheds Sutherland have picked up first-time spots on Standard Chartered’s global legal panel, as a host of firms have been reappointed to the bank’s roster.

Herbert Smith Freehills (HSF), Baker McKenzie, Allen & Overy, Clifford Chance, Hogan Lovells, Slaughter and May, and Linklaters have all been reappointed to the panel as a result of a review that kicked off earlier this year.

According to a partner at one panel firm, the bank’s chief operating officer for legal, Helen Clerkin, ran the process.

The bank last reviewed its panel in 2015, when HSF picked up a first-time place alongside the six other firms named above.

Standard Chartered’s legal team is headed by London-based group general counsel David Fein, who joined the bank in September 2013. He was formerly US Attorney for the District of Connecticut, and also previously served as associate White House counsel under President Clinton.

The bank has been through a major restructuring in recent years, after announcing in 2015 that it was aiming to cut 15,000 jobs by 2018.

That year, Slaughters and Sullivan & Cromwell advised the bank on a $5.1bn (£3.3bn) rights issue aimed at covering the costs of the restructuring, while Fein took on extra responsibility for the bank’s corporate secretariat.

In 2015, the in-house legal team was bolstered by the addition of ICAP group general counsel Duncan Wales as deputy GC, but Wales spent less than a year at the bank before leaving for investment firm Exotix Partners.

Other changes in the bank’s senior legal team in recent years include the exit of former global head of legal and compliance Jamie Kelly, who left to go on sabbatical in 2015 before resurfacing at Australian bank Westpac last year. Neil Barry now serves as group head of compliance.

Earlier this year, Lloyds Banking Group completed a review of its specialist sub-panel, with 24 firms winning places including Berwin Leighton Paisner, Simmons & Simmons, Bond Dickinson and Reed Smith.

Deutsche Bank also recently completed its latest global panel.  It is understood that Latham & Watkins, White & Case and Hogan Lovells have been reappointed to the panel, alongside a raft of firms including Freshfields Bruckhaus Deringer, Linklaters, Allen & Overy, Slaughter and May, Simmons & Simmons, Ashurst, Reed Smith, Herbert Smith Freehills, Shearman & Sterling and Clifford Chance (CC).

All firms declined to comment. Standard Chartered declined to comment.