Increasingly for in-house counsel, the intelligent appointment of an external panel of select legal advisers can significantly reduce the time and money spent on effectively managing risk. It follows then that developing close working relationships with external counsel can go a long way towards explaining value and justifying costs to senior management. External lawyers assist by providing a full suite of legal services, commercially savvy advice and specialist support and know-how. Evangelos Apostolou, Ernst & Young highlights the benefits of establishing an external counsel panel in an age where the role of in-house lawyers is continually evolving.