Case Study, Europe

A major UK Clearing Bank Case Study

A wider long-term relationship

Posted 04 September 2018

“Costs are now under control and further improvements are made through an ongoing relationship.”

Situation

In 2014, the bank was experiencing resourcing challenges within its legal teams and was using multiple recruitment agencies, to try and service its requirements.

This was causing a number of issues:

  • Costs were spiralling as the bank struggled to manage its supply base.
  • Freelancers were joining and leaving again shortly after as they weren’t a suitable match for the bank’s culture.
  • Lawyers were not appropriately supported during their assignment and had limited access to professional development opportunities.
  • The bank felt that many of its suppliers were adopting a profit above relationship mentality.

Requirements

The bank required a freelance legal provider who would focus upon quality, one that would support the lawyers and most importantly of all, one for whom this was more than a transaction, but part of a wider long-term relationship.

 

How Vario Delivered

Since 2014, Vario has supported the bank across numerous teams. Assignments have ranged from several weeks through to 24 months, with Varios working on site at locations throughout the UK, such as, London, the South-West, Wales, Scotland and several locations the North.

As a fully-integrated service offering from Pinsent Masons, Vario is concerned with the overall relationship with the client above any focus upon placing a lawyer on assignment. This attitude underpins all of the work that Vario completes and drives a unique mind-set, one which is only interested in placing lawyers perfectly suited to their environment. It is this mentality which has seen Vario’s work with this bank grow continually.

Outcome

  • Over the past 4 years, a total of 30 lawyers have been on assignment with the bank, and as of May 2018, 9 are currently in long-term assignments. Many assignments are extended time and again, providing evidence that the right people are found, both in terms of technical ability and cultural fit.
  • Costs are under control. The bank is satisfied that value is being achieved and has steadily increased its use of Vario lawyers.A collaborative approach to work, which has developed between Vario and the bank, has ensured that Vario is able to predict upcoming needs well in advance and continually offer greater and faster levels of support.

 

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