
Herbert Smith Freehills (HSF), White & Case and Pinsent Masons have picked up mandates advising on the establishment of the first new clearing bank to be approved on the UK market in 250 years.
ClearBank was announced yesterday (28 February), and will start operating in autumn 2017 as the fifth clearing bank in the UK alongside Barclays, HSBC, Lloyds and Royal Bank of Scotland.