July 1, 2011
Barclays PLC announced today that Moses & Singer LLP is among 5 law firms selected to provide the Group with Corporate Real Estate Services, after completing its biennial review of the UK and US legal firms used by the Group. This year's panel includes the creation of a US sub-division of the General Advisory panel and the creation of an Investment Banking & Markets panel. These reflect the growth in the Group's US activities and its investment banking footprint. A US panel was introduced in 2010 and the opportunity has been taken to refresh that and to align the process with its UK counter-part.
Barclays' Group General Counsel Mark Harding said: "We entered the 2011 Barclays panel process with great optimism that it would provide us with a platform to test our existing firms on their commercial flexibility, allow us to explore some new firms and to create a UK/US law firm panel which allows us to leverage our scale. I am delighted that at the end of an intensive three month period we are closing this review with a selection of firms with which we will build strong and mutually beneficial relationships with. These firms have also responded well to our challenge to reduce the overall cost of delivering legal services to us whilst maintaining quality and risk management levels.
Of course this is only the first step to enhancing our external delivery model. Now that we have finalised the panel we will continue to work with these firms to develop innovative tools and processes that will drive excellence to our business over the next two years. "