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We refer to IFLR1000 because it is an easy and reliable source of information on legal counsel.
We use the IFLR1000 where the Bank intends to transact abroad and requires local legal counsel with expertise on the transaction at hand.
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Legal counsel
Listed European Bank
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We operate panels in many practice areas and in many countries. We don't always have a practice area specialist who knows firms in the country, so that is where guides like this come in handy.
The IFLR1000 is a useful cross reference to refer to ... to make sure a personal referral aligns with some objective rankings from a survey. I would refer to it in my main area, M&A, when looking for a counsel in a country we are new to.
The country-by-country tiered rankings by practice area are a good approach, to get a rough feel if a firm is viewed as active in a practice area.
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UK General Counsel
US-listed multi-national corporate