Legal Business

City elite dominates again as Deutsche Bank nears conclusion of panel review

Panel firms resist attempts to remove junior lawyer fees from pricing

While more than a dozen firms – including the entire Magic Circle – have made it onto Deutsche Bank’s latest global legal panel, an attempt by the bank to remove fees for junior lawyers has proved controversial.

The review process, which is understood to be mostly complete, stemmed from a request for proposal sent out to help Deutsche analyse its current policies and processes for external legal counsel. The process, dubbed ‘Project Eagle’, was led by global chief operating officer of legal and compliance Rose Battaglia, with appointments expected to last two years.