Norton Rose Fulbright - True Picture

It's a Ful-bright future for trainees at this international juggernaut excelling in all things finance.

Norton Rose Fulbright training contract review 2022

The Firm

When an email signature includes the sentence ‘law around the world,’ you’ve got to dig into the claim. It’s true, the Norton Rose network is sprawling with more than 3,700 lawyers in over 50 offices across the globe. “It’s all so international,” one trainee found. This international aspect was “the differentiating factor” during application and compelled most of our sources to join. “Everything has an element of cross-border work,” another added. “It makes your trainee experience really enriching.”

“Everything has an element of cross-border work.”

Globally, the firm shines in infrastructure finance and large-scale investment projects. Chambers Global ranks the firm as a worldwide leader in projects and shipping finance. And what makes the world go round? Finance of course, and NRF’s finance practices earn numerous strong rankings across all its iterations, be it climate change, energy, agribusiness, asset finance, aviation, commodities, insurance, or mining. Rubbing shoulders with the best of the silver circle, Norton Rose is a banking behemoth in the City.

Norton Rose's Head of Innovation Jeremy Coleman is speaking at the Gen Z Summit on Thursday 3 March about how Covid-19 has impacted the legal profession. Don't miss out - sign up to attend here.

Yet unlike some of its competitors, its extensive string of international offices make cross-border work a breeze. It also means secondments in “really great cities,” such as Tokyo, Sydney, New York, Dubai, or more. Grounded flights and travel restrictions meant “the huge chunk that usually go on secondment couldn’t go.”  Where usually a guarantee, cancelled secondments understandably disgruntled those drawn to the firm for its offer of tickets to exciting shores. While they weren't able to physically go overseas, the firm did still host these secondment opportunities remotely. If trainees are interested in completing an overseas secondment, they usually submit a CV to an office of their choice, with a decision then fed back to London based on whether the applicant would fit with the work on offer.

The Seats

In London town, trainees have to do one corporate, one finance, and a litigation-oriented seat. Litigation can be covered via a one-week course. Finance is made up of four departments: asset finance; general banking, capital markets, and project finance. While seemingly stringent, things are more flexible in practice. “You’re told you need to do one banking, one corporate, and one disputes department. But it’s not hard and fast,”  one source told us. “Things can be quite flexible; you just have to tell HR what your interests are.”  Sources then rank seat preferences one to four for each rotation. While some dubbed the process “informal” and not “really knowing what happens behind the scenes,” others said the process’s flexibility and informality works. “You can go straight and chat to HR about your intentions to shape your training contract.”

Trainees found work across shipping, aviation, and rail matters in asset finance. The shipping finance team – one of the firm’s oldest – works for the likes of Gener8 Maritime, Citigroup, J.P. Morgan, and P&O Ferries. It advised cruise operator Carnival Corporation & plc on English and European aspects of private offerings of $4 billion first priority senior secured notes and over $2 billion aggregate principal amount of convertible senior notes. Aviation finance saw the firm act for easyJet in the sale and leaseback of 56 of its aircraft, generating over $1.8 billion for the company. It also advised DVB on its divestment of its aviation business for $5.2 billion. In rail finance, the firm act for governments, regulators, and financiers, such as the City of Ottawa, Bank of America Merrill Lynch, and the Lagos State Government. The firm advised the latter in relation to a $200 million bridge loan relating to a PPP project.

“It’s a huge team,”  said one source. “It’s a great seat as there are about ten trainees. You learn the ropes quite quickly.” Sources slipped into one of the group’s three slipstreams. “I mainly did aviation work,”  one trainee highlighted. It meant being “totally in charge of the conditions precedent checklist,”  working on document production and taking precedents to update the deal. Sources had worked on transactions “with unlimited client contact,”  attended regular signing meetings and had “done some closing calls by the end of the seat.”  With “short deal times, with lots to learn,” one source happily found there were “good levels of responsibility where you’re treated as an important part.”

“I was picking up the phone and negotiating points with certain parties by the end of the seat.”

The general banking team covers real estate and trade finance, and restructuring matters. It works with both lenders and borrowers. On the lender side, clients such as Bank of America, Goldman Sachs, and HSBC flock to the firm. One such matter saw the firm advise Sumitomo Mitsui Banking Corporation Europe in a $750 million energy financing. On the borrower side, it advised Reach in relation to its financing of a £65 million revolving credit facility. ING Bank, Citibank, and Société Générale call on the firm’s restructuring and insolvency expertise. As did a group of senior secure lenders to the DeepOcean group on its successful restructuring in a matter reaching €220 million. Real estate finance clients include Olympus Property Holding, Standard Chartered Bank, ICBC, and Battersea Power Station, with the firm recently advising on a joint venture of investors on the £875 million facility in connection with the $1.3 billion redevelopment of Olympia London. One source in real estate finance had “six or seven matters ongoing,”  and “mostly on the lender side, financing new builds or refinancing previous facilities.”  The usual trainee work involving “running and managing the CP checklist, negotiating some minor points there and in some cases negotiating securities documents.”

AIM transactions, debt and equity capital markets, structured finance and derivatives, and securitisation work keep those in the capital markets group busy. Big banks, sovereign states and countries, and more call on the firm’s expertise. Debt capital markets lawyers advised Canadian banks and their international dealers on over $15 billion of offerings in addition to numerous debt programme updates and establishments. Securitisation folks advised Olympic Tourist and Commercial SA as to English law on its Cronus Finance DAC-issued €186.4 million securitisation of a portfolio of auto leases. The likes of the Republic of Angola, Deutsche Bank, Goldman Sachs and many more flock to the firm in all permutations of capital markets work, with sources finding work in each specific slipstream. Sources had worked on fundraising for German banks following changes to German law and helped a “reputable short-term loan company become an SME.”  Due to the “technical nature”  of securitisation work, trainees had reviewed comments, coordinated conditions precedent checklists, and drafted board minutes. “I was picking up the phone and negotiating points with certain parties by the end of the seat,”  one source confirmed.

Project financeis now called energy, infrastructure and natural resources. “It’s one of the top-tier banking teams at Norton Rose,” one source enthused. Its lawyers work on infrastructure/PPP, mining, renewables, sustainability, and oil and gas matters. The likes of Alufer, Bank of Tokyo-Mitsubishi, and Export Import Bank of Korea call on the firm. It also advised a consortium of 29 lenders and three export credit agencies on the financial close of the first two phases of Dogger Bank offshore wind farm, the world’s largest offshore wind farm when completed. It’s also advising lenders in relation to the $1 billion of Ivanhoe’s greenfield Platreef platinum mine in South Africa. Typical banking tasks involved “transactional management, understanding deal flow, reviewing documents and running redlines and the CP checklist.”  Once trust is established, “you might get to draft some clauses and update key documents like a loan agreement or energy procurement contact.”  Being asked to draft engagement letters “was fun and non-typical,” according to one source.

“The client was breached, the war room was assembled, and we quickly had to work out 'whodunnit' and how we could solve the problem.”

The firm’s corporate department is split by client type rather than practice, with one team handling M&A and equity capital markets for a range of businesses and the other advising financial institutions. BP, Bank of Montreal, Lloyds Banking Group, Santander, and Vodafone are on the firm’s books, with it advising Barclays as financial adviser to Cisco Systems on its £543 million recommended cash offer for the acquisition of IMImobile. It also advised Louis Dreyfus Company in connection with the sale of a 45% stake in the LDC group by LDC’s shareholder to Abu Dhabi state-owned holding company ADQ. “It was an interesting seat,” said one source who’d worked on public and private M&A deals, joint ventures, and deals in the IPO space. “Those can be quite gruelling when you’re reviewing prospectuses at 5.30am.” The reward? “Seeing the company listed on the London Stock Exchange and knowing you were part of that.” Insurance companies in the private equity space and gaming companies also busied our sources. “It was a great experience but tough hours,”  another reflected.

Disputes covers a wide range – from litigation, commercial arbitration, and investigations – for a range of clients in tech, mining, commodities, and other industries. Sources had worked on cyber-breach insurance claims: “We do detailed work there on the regulatory, communications, and forensic aspects of the breach,”  acting in a pseudo-detective capacity. “The client was breached, the war room was assembled, and we quickly had to work out 'whodunnit' and how we could solve the problem.”  Insurance matters overlapped, in both advisory and litigious capacities. “Those involve lots of engineers and forensic analysis. It’s really varied and never boring.”  Banking disputes were also common, working on “anything from loan agreements being disputed or payment failures, as well as SPA disputes.”  Those disputes were considered “very high-profile and likely to come across in the news,” andinvolved lots of case management from trainees. “It’s a logistical and legal balance there,” one source highlighted, making sure hard copies of bundles are delivered to judges or “substantive work like proofreading skeleton arguments or drafting letters to the other side.”

Trainee Life

In a firm so vast, it’s unsurprising to find “pockets” of culture. “The firm pushes hard to have a general culture, but internally it’s team-dependent.”            Collectively sources pointed to a “friendly culture that values its employees’ wellbeing and development.”  Sources also said that the trainee cohort is notably “collegiate and supportive” and one not breeding “competition between its trainees.”  One source shared: “You can easily pick up the phone to a mate in the firm to vent about a rough day.”  Department specific traits emerged however, with sources finding some teams less social. “Some individuals aren’t as approachable, but on the whole the vast majority are.”

Sources were quick to champion the firm’s approach to diversity and inclusion. “The international element really shapes it,” one trainee found. “There’s not much of that classic ‘white-British Oxbridge male’ vibe.”  Instead, “it’s people from all walks of life.”  Committees, internal/external affinity groups, and “global training” on topics – such as bystander training or allyship – were championed. “Lots of firms are buying into performative diversity, but here they care and there’s a genuine commitment.”  One source highlighted that the firm’s new global chief executive Gerrard Pecht has placed a “huge emphasis on it,”  and “that priority filters through the firm.”

"The hours will be tough, but it doesn’t consume your life."

Where internationalism breeds a widening of culture, it also dictates international time zones. “I don’t feel that my work-life balance has been that great, to be honest,”  one source noted. Reportedly compunded by home working, hourly demands can be… well, demanding. “There were three months in a row where I worked every weekend.”  Some sources did however find greater balance. “I’ve never had anything ridiculous. Getting off at 7pm is good and I’ve never been asked to work any weekends.”  The takeaway? Hours widely fluctuate depending on department. Corporate and transactional seats are known for their volatility, while disputes “are slightly more predictable.”  Our survey data shows that 50 was the average number of hours worked by trainees in the past week.

With long hours comes big rewards. Or does it? NRF trainees are among the best paid in the City, yet “some people look at the salary wars at the US firms and wonder why they’re working comparable hours here but for less money on qualification.”  By less, they mean £85,000 compared to the six-figure salaries that can be found elsewhere in the City. One trainee reflected: “I’m happily compensated and you know the hours will be tough, but it doesn’t consume your life like other firms where you lose any autonomy over your personal life.”

The Rose Garden

Job lists are published when the NQ process begins, with trainees submitting applications up to three departments.  The firm did not disclose its 2021 retention figures, but one source was reassured that "retention tends to be quite high."


How to get into Norton Rose Fulbright

Training contract deadline: 11 July 2022

Vac scheme deadline: 31 October (Winter); 21 November 2021 (Spring); January 2022 (Summer)

Trainee profile

Norton Rose Fulbright requires prospective trainees to have obtained a minimum AAB at A-level and a 2:1 degree, though like many firms it takes extenuating circumstances into consideration. Senior graduate recruitment senior adviser Philippa Wilson tells us that a global mindset is highly valued: “We really want people who would like to complete a secondment, either internationally or at one of our clients – a flexible approach is important.”

The firm targets 15 UK universities each year: while typically the firm works closely with university careers services and societies on targeting careers events, most of these had to be virtual in 2020 and 2021 as a result of the Covid-19 pandemic.

The vacation scheme

The firm runs four vacation schemes each year: two two-week schemes in the summer, and one seven-day scheme in the winter. There are up to 50 places available across the three schemes, and candidates are paid £450 per week. Around 2,000 people apply for the vacation scheme every year. We're told somewhere between 65% of the most recent trainee intake have completed the scheme.

Applications for the vacation scheme begin with an online form that allows applicants to fill in their work experience and academics, accompanied by a covering letter. “We're looking at the skills and qualities which an individual can bring to the practice, along with a genuine interest in and awareness of commercial issues,” our trainee recruitment sources say. “Accurate spelling and grammar are essential too.”

After an initial screen, candidates who impress will be invited to complete an online psychometric test, and if they pass this they will then be invited to a telephone interview, all prior to the assessment day.

Vac schemers spend their visit in one department, sharing an office with an associate or a partner. They're also assigned a trainee buddy. In the past, attendees have completed drafting assignments, attended meetings, sat in on conference calls and undertaken research tasks. “Get to know as many people as you can here – the partners in particular,” advised one of the firm's current trainees. Covid-19 has affected future plans; the firm has confirmed it will run its 2020 winter vacation scheme virtually.

The training contract application process

Around 1,000 people apply directly for Norton Rose Fulbright's training contract each year. The form is exactly the same as the one for the vacation scheme.

“We expect to see some legal work experience from our training contract applicants,” says Wilson. “You don't have to have completed our vacation scheme or one at another firm, but you do need to show commercial experience.” She goes on to explain: “We're client-facing and place a huge emphasis on teamwork, so if you've taken part in something like sport, drama or volunteering, we want to hear about that too.”

The firm invites the strongest applicants to an assessment day that involves an interview with two partners, a written assessment and a group negotiation exercise. The interview aims to test an applicant's motivations for joining Norton Rose Fulbright, their commitment to the law and their commercial knowledge. Meanwhile, the assessment and exercise aim to measure critical thinking and writing skills, and how well someone works as part of a team. The written assessment in particular is “more focused on what we do as a business,” Wilson explains.

In normal circumstances the day includes lunch with the current trainees and a tour of the building; this was of course impossible in 2020, but the other elements of the programme remained in place. “It is quite a full-on day, but we've deliberately designed it to be like that,” our sources tell us. “We want to give people a real impression of what we're like as a business, and we want to see how they respond to that.”

Norton Rose Fulbright

3 More London Riverside,

  • Partners: 1,100+ (globally)
  • Assistant solicitors: 3,700+ (globally)
  • Total trainees: 82
  • UK offices: London, Newcastle
  • Overseas offices: Over 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Africa
  • Contacts  
  • Training partners: Clementine Hogarth and Matt Hardwick
  • Application criteria  
  • Training contracts pa: Up to 45
  • Applications pa: 3,000+ Minimum required degree grade: 2:1 or equivalent
  • Minimum UCAS points or A levels: AAB at A-Level or equivalent
  • Vacation scheme places pa: Up to 60
  • Dates and deadlines  
  • Training contract applications open: 31 May 2022
  • Training contract deadline, 2024 start: 11 July 2022
  • Winter vacation scheme: Apply 13 September – 31 October 2021
  • Spring vacation scheme: Apply 4 October – 21 November 2021
  • Summer vacation scheme: Apply 15 November 2021 – 16 January 2022
  • First Step vacation scheme: Apply 1 February – 6 March 2022
  • Business and Legal Operations Graduate Scheme: Apply 6 December 2021 – 30 January 2022
  • Solicitor Apprenticeship Programme (London): Apply 4 April – 5 June 2022
  • Paralegal Apprenticeship Programme (Newcastle): Apply 4 April – 5 June 2022
  • Salary and benefits  
  • First-year salary: £48,000
  • Second-year salary: £52,000
  • Post qualification salary: £95,000
  • Sponsorship LPC fees: Yes - £10,000 GDL fees: Yes - £7,000
  • International and regional  
  • Offices with training contracts: London.
  • Overseas seats: Yes: Athens, Australia (Sydney, Perth ), Dubai, Frankfurt, Hong Kong, , Milan, Moscow, Munich, Paris, Singapore, Tokyo
  • Client secondments: Yes

Firm profile

We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 3,700 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Africa.

Recognised for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through our global risk advisory group, we leverage our industry experience with our knowledge of legal, regulatory, compliance and governance issues to provide our clients with practical solutions to the legal and regulatory risks facing their businesses.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Main areas of work

Our London office delivers domestic and multi-jurisdictional legal services to corporates, financial institutions, governments and other public sector organisations. We excel across a range of legal practices, including corporate, M&A and securities; banking and finance; dispute resolution and litigation; real estate; antitrust and competition; tax; employment and labour; intellectual property; regulation and investigations; and risk advisory. We also advise on US law, and we have a world leading Islamic finance practice. We are particularly well-known for our focus on industry sectors and are strong in financial institutions, including insurance; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Training opportunities

There’s no progress more vital than what you’ll experience on our training contracts. Over two years – broken into four six-month seats – you’ll hit all kinds of new firsts with us, big and small. You’ll explore new areas, for instance. Each seat will take you through different sectors and practice areas, with at least one seat in banking and corporate. One of your seats will almost certainly be on secondment too – your first encounter with working in a new country, or maybe six months spent working in a client office. As you move from one milestone to the next, you’ll have a sizeable team at your back. A partner mentor to turn to and to learn from. A trainee buddy to teach you the ropes. And the whole trainee development team, to keep you on track from day to day.

An impeccable academic record and intellectual rigour are prerequisites. We expect successful candidates to have at least AAB at A level (or equivalent) and be on track for a 2:1 (or equivalent). You’ll have an enquiring mind, strong interpersonal skills, and the motivation to make constant progress. You’ll never stop pushing yourself forward, grasping every opportunity – both at home and abroad – that our firm has to offer.

You’ll be interested in business too, and keen to build relationships within a firm that’ll help you make progress with purpose.

We offer up to 45 training contracts each year across two intakes.

For both our March 2024 and September 2024 intakes, all finalists and graduates of any subject, and penultimate year law students should apply from the 31st May to 11th July, once they have received their final, or second year, grades.

At Norton Rose Fulbright we look for intelligent, ambitious, internationally focused and commercially-minded individuals to drive our business. We will expect you to think creatively and find new ways to solve problems. We expect our trainees to deliver work that meets the highest professional, ethical and business standards for our clients. All applicants must have achieved at least AAB in their A levels or equivalent and be on course to achieve (or to have achieved already) a 2.1 degree or above.

Our mentoring scheme will help you make the most of the incredible depth of knowledge and experience across the organisation. Your mentor will offer you everything from career insights to resolving any concerns you may have.

Working together
We pride ourselves on our supportive culture that thrives on collaboration and encourages networking with your trainee colleagues, lawyers and partners. You will also help to choose - or become - one of two trainee representatives. These meet once a quarter to provide feedback, raise concerns and generate ideas to ensure your training contract is a rewarding experience.

Your development
When we hire you, we are making an investment. We ensure we all get the maximum return on this by providing the highest standards of training. Becoming an outstanding lawyer is about continuous development - we will make sure you are challenged and rewarded in equal measure.

Vacation Schemes
Finding the place you want to start your career is a moment you’ll always remember, and that’s exactly the kind of insight we offer on our vacation schemes. The scheme will involve interactive sessions with senior stakeholders, group and individual assessments, engaging workshops, as well as an associate mentor and trainee buddy for the week. There will also be a training contract interview on the last day. Whether your vacation scheme is in person, virtual, or a hybrid of the two, our schemes offer you an unparalleled insight into the life, work and culture of who we are, giving you the chance to see if we are the firm for you.

First-year opportunities
Everyone remembers the first day they walked through the doors of their future firm. For many of our lawyers, that happens on First Step programme. First Step caters to first-year undergraduates of all degree subjects (and second years of a 4 year course). Whether its virtual or in person , it’s the opportunity to make a first impression, and use our packed schedule of interactive sessions to discover whether law is right for you.

Business & Legal Operations Graduate Scheme
The delivery of legal services is changing. This doesn't just involve the emergence of new technology, it involves the increasingly crucial role played by other technical disciplines in providing more complex and sophisticated client solutions, and optimising our performance as a business.

Our Business and Legal Operations Graduate Scheme is a two year programme encompassing every aspect of the rapid changes currently underway in the delivery of high end legal services. This two year programme will mirror our traditional training contract for new lawyers, but with a focus on different disciplines, including innovation, commercial management, and legal product design. This is an exciting opportunity for those who want to progress and be at the forefront of driving our business strategy in the years to come.

Apprentice Programmes
Have you thought about law? Are you worried about the costs of university or put off by how competitive it is to obtain a job once you graduate? Perhaps you are simply keen to get into the world of work and start building a career. If so, our Apprenticeship Programme might be for you.

We have two Apprentice Programmes; a Solicitor Apprentice Programme in London, after which you will obtain an LLB degree and become a qualified solicitor, and a Paralegal Apprentice Programme based in our Newcastle office, which upon completion you will achieve a Level 3 Apprenticeship Certificate of Higher Education.

Our apprentices will work alongside and learn from some of the brightest minds in their field, helping to solve some of our clients' most complex legal and business problems while learning the academic and practical skills needed to excel as a lawyer. Both programmes start in September 2022, and we are looking for lawyers of the future - enterprising, digitally minded individuals with the intellectual curiosity and aptitude needed to thrive in our legal business.

Application details:
Training contract
If you are a finalist or graduate (of any subject), or a penultimate year law student you should apply from 31st May – 11th July 2022.

Vacation schemes
Our 2021 Winter Vacation Scheme is for finalists and graduates from law and non-law subjects and will run from 6th to 10th December 2021. Applications will open from 13th September to 31st October 2021 and assessment days will be held in November.

Our 2022 Spring Vacation Scheme is for finalists and graduates (law and non-law). The scheme will run from 4th – 8th April 2022. Applications will open from 4th October to 21st November 2021.

Our 2022 Summer Vacation Schemes are for penultimate-year law and non-law undergraduates. The schemes will run on the following dates:
• 6th – 10th June 2022
• 27th June – 1st July 2022

Applications will open from 15th November to 16th January 2022, assessments will be held in February 2022.

First Step
First-year undergraduates and those in the 2nd year of a four year course may apply for our First Step Programme from 1st February to 6th March 2022. Telephone interviews will be held in June 2022 and successful candidates will attend the programme from 18th – 22nd July 2022.

Business & Legal Operations Graduate Scheme
If you are a finalist or graduate (of any subject) you can apply from 6th December to 20th January 2022. Assessment centres will be held in March 2022.

Apprentice Programmes
We run two Apprentice programmes; one in London for aspiring Solicitors and one in Newcastle for Paralegals. Both programmes are open for all final year A Level students or school leavers to apply, with applications opening from 4th April – 5th June 2022. Assessment centres will be held in June 2022.

These programmes are not open to candidates who are already studying at university.

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This Firm's Rankings in
UK Guide, 2021

Ranked Departments

    • Banking & Finance: Borrowers: Mid-Market (Band 3)
    • Banking & Finance: Lenders: Mid-Market (Band 2)
    • Banking Litigation (Band 3)
    • Capital Markets: Debt (Band 3)
    • Capital Markets: Derivatives (Band 3)
    • Capital Markets: Structured Finance (Band 3)
    • Commercial and Corporate Litigation (Band 4)
    • Competition Law (Band 3)
    • Construction: Contentious (Band 3)
    • Construction: Non-contentious (Band 3)
    • Corporate/M&A: High-end Capability (Band 5)
    • Employment: Employer (Band 5)
    • Environment (Band 2)
    • Financial Crime: Corporates (Band 3)
    • Financial Crime: Individuals (Band 2)
    • Information Technology (Band 3)
    • Intellectual Property (Band 5)
    • Litigation (Band 2)
    • Pensions (Band 4)
    • Professional Negligence: Financial (Band 4)
    • Real Estate Finance (Band 4)
    • Real Estate: Big-Ticket (Band 3)
    • Restructuring/Insolvency (Band 4)
    • Tax (Band 4)
    • Asset Finance: Aviation Finance (Band 1)
    • Asset Finance: Rail Finance (Band 1)
    • Asset Finance: Shipping Finance (Band 1)
    • Aviation (Band 1)
    • Capital Markets: AIM (Band 3)
    • Commodities: Derivatives & Energy Trading (Band 1)
    • Commodities: Trade Finance (Band 1)
    • Data Protection & Information Law (Band 5)
    • Employee Share Schemes & Incentives (Band 4)
    • Energy & Natural Resources: Mining (Band 1)
    • Energy & Natural Resources: Oil & Gas (Band 2)
    • Energy & Natural Resources: Power (Band 2)
    • Energy & Natural Resources: Renewables & Alternative Energy (Band 1)
    • Financial Services: Non-contentious Regulatory (Band 2)
    • Fraud: Civil (Band 4)
    • Hotels & Leisure (Band 3)
    • Infrastructure (Band 3)
    • Insurance: Contentious Claims & Reinsurance (Band 4)
    • Insurance: Non-contentious (Band 1)
    • International Arbitration: Commercial Arbitration (Band 4)
    • Investment Funds: Closed-ended Listed Funds (Band 2)
    • Outsourcing (Band 4)
    • Projects (Band 2)
    • Projects: PFI/PPP (Band 2)
    • Shipping (Band 4)
    • Telecommunications (Band 3)
    • Transport: Rail: Projects & Infrastructure (Band 2)
    • Transport: Rail: Rolling Stock (Band 1)

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