The unusual move is being piloted by A&O’s securitisation department, which recently took on a number of ‘transaction executives’ with a view to them being given more responsibility for lower-cost repeat transactions.
A&O securitisation head Salim Nathoo said: “A&O will always expect to work on the most complex and difficult deals but a large part of the market is becoming commoditised. If an associate is working on 50-100 pieces of paper in a securitisation which involves a degree of repetition, there is a more efficient way to use their time.”
The move — one of a series of measures being considered by the City giant’s finance department — will be closely watched by banking rivals such as Clifford Chance, which does not operate a similar system.
One rival securitisation partner said: “In the
He added: “I do not think we are yet in the right sort of commoditised world that the
