Governance
Barclays legal review complete |
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| Governance | |
| Written by Paul Williams | |
| Thursday, 02 July 2009 | |
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Barclays announced today that it has completed its biennial review of the legal firms used by the Group.
The Barclays (LON:BARC) Legal Panel comprises a General Advisory panel and 10 specialist panels, which service the Group’s business and strategic legal needs. Group General Counsel Mark Harding said: “Panel law firms continue to provide us with excellent service, driven in no small way by the partnership approach created from panel arrangements. In the current environment it is increasingly important to ensure we have the right choice of panel firms to meet our diverse needs, providing good governance and risk management. I am delighted to announce the Barclays 2009 UK Legal Panel and would like to thank all firms who have participated.” Cate Campany, Head of Legal Operations, said: “Our panel review is very timely, as the Group has been analysing its cost base, including supplier costs. The process is extensive, providing the Legal function with a deeper understanding of the law firms’ capabilities. Given the current market conditions, greater transparency is important to us, particularly understanding the value to the firms of the services they provide. We have mandated the use of our legal spend management system which will provide more detailed analytics as well as automating invoice reviews.”
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