Re:Leaked Files Reveal Royal Bank of Scotland Harmed British...
by vidarh on Monday October 10, 2016 @08:15AM
(#12676593)
And in fact, they had parts of RBS as clients both before and after.
Clifford Chance is not just any large lawfirm - they're persistently amongst the top ten lawfirms in the world by revenue, and one of the firms making up the UK "magic circle" lawfirms (at least 3 of the others of which are also amongst the top ten in the world).
They'd bend over backwards for a bank the size of RBS, as they are a big enough behemoth that their revenue would slide very quickly if they showed any kind of spine when it came to standing up to customers that size - it's not like they could easily replace lost revenue from a client like RBS from smaller clients.
It's a problem with companies like that (both RBS and Clifford Chance) - RBS isn't just too big to fail for the UK, it's too big for a lawfirm as bloated as Clifford Chance to afford to risk their relationship with.
EDIT: In fact, not only is RBS a Clifford Chance client, but specifically the property arm of RBS (West Register) that is one of th divisions implicated in this, has used Clifford Chance. As you can see from Clifford Chance's own website [1] [2].
Clifford Chance is not just any large lawfirm - they're persistently amongst the top ten lawfirms in the world by revenue, and one of the firms making up the UK "magic circle" lawfirms (at least 3 of the others of which are also amongst the top ten in the world).
They'd bend over backwards for a bank the size of RBS, as they are a big enough behemoth that their revenue would slide very quickly if they showed any kind of spine when it came to standing up to customers that size - it's not like they could easily replace lost revenue from a client like RBS from smaller clients.
It's a problem with companies like that (both RBS and Clifford Chance) - RBS isn't just too big to fail for the UK, it's too big for a lawfirm as bloated as Clifford Chance to afford to risk their relationship with.
EDIT: In fact, not only is RBS a Clifford Chance client, but specifically the property arm of RBS (West Register) that is one of th divisions implicated in this, has used Clifford Chance. As you can see from Clifford Chance's own website [1] [2].
[1] https://www.cliffordchance.com/news/news/2012/11/clifford_ch...
[2] https://www.cliffordchance.com/news/news/2015/09/clifford-ch...