Deutsche Bank pushes advisors to use LPOs
Deutsche Bank wants its legal advisors to step up their use of legal process outsourcing to reduce costs.
The bank is nearing the conclusion of the first formal review of its external law firm relationships, and will finalise its roster of legal advisers in the coming weeks. It has asked candidate firms to provide information not only about fee structures but also potential outsourcing options.
Commenting on Deutsche's review, one City banking partner said: "What I don't get is that clients seems to be focusing on the flavour of the month, and currently that is outsourcing. The banks get obsessed with one thing and don't look at all the other ways that you are driving down costs in your business."
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