Barclays puts hourly billing under spotlight as bank completes final formal panel review

Bank pushes advisers to reduce hourly billing to just 15% of all work as firms including Ashurst, Norton Rose Fulbright and magic circle heavyweights win spots on new roster

Barclays has completed its final formal legal panel review, as the bank shifts to a new system it describes as “active relationship management”.

The new line-up will run for three years, although advisers will now be subject to an ongoing assessment process, giving the bank more flexibility to manage the size and composition of the panel, with firms added and removed on an ad hoc basis.

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