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Scottish law firms knocked off Clydesdale Bank panel

A GROUP of Scottish law firms are among those which have missed out on potentially lucrative financial services work after Clydesdale Bank and Yorkshire Bank culled their national panel of advisers.

Brodies, Harper Macleod and Morton Fraser are the firms in Scotland which have been cut from the group.

English practices Eversheds, Norton Rose Fulbright and Thomas Eggar also did not make it onto the list this time around.

However Shepherd and Wedderburn, traditionally one of the largest firms in Scotland, and Pinsent Masons, one of Scotland's largest legal employers, have been added to the roster after being invited to tender for the opportunity earlier this year. They are joined by Addleshaw Goddard, CMS Cameron McKenna, DLA Piper, HBJ Gateley and Hogan Lovells which all successfully re-tendered for their places.

CMS, which swallowed Dundas & Wilson through a merger in May, has a large presence in Scotland while DLA and HBJ also have a presence here.

The firms on the Clydesdale national panel would be the first port of call for the bank on a wide range of legal functions which could include areas such as regulation, corporate finance and real estate.

Clydesdale said: "The new panel arrangement represents a significant consolidation of the existing national panel."

The bank also said it had consolidated and restructured its other legal panels.

It has set up a recoveries panel to sit alongside the business and private bank one, which has also been re-tendered, and the existing retail panel.

Last night it was unable to give further details on the make-up of those panels but it is understood many of the firms on the national roster are also on the ones underneath it.

Clydesdale also confirmed it will continue to use the London legal panel of its parent, National Australia Bank, for some specialist advice.

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