Lloyds delay panel review conclusion
26th October 2012
The extensive panel review which is currently being carried out by Lloyds Banking Group will now not be completed until November at the earliest, as the financial services organisation has decided to extend the time during which its current roster of firms can continue to represent them.
It is believed that, when the review is eventually completed, Lloyds will announce they are streamlining the number of solicitors with London legal jobs they will make use of on a regular basis, focusing mainly on eight to twelve private practices.
The current review represents the second major one which Lloyds TSB has launched since acquiring the banking and insurance company HBOS just before they were hit by the financial crisis of 2008; the first took place in 2010 and brought about the hire of several major London-based firms.
The Royal Bank of Scotland, meanwhile, have just announced the results of their completed review, which has seen several firms taken on, despite cutting the overall size of their roster by roughly 40 per cent.