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HSBC is preparing to launch a review of its Middle East panel of external legal advisers, with firms due to pitch for the highly coveted places in September.
Firms already on the regional panel include Eversheds and Trowers & Hamlins, while international firms tipped to be pitching include King & Spalding, Latham & Watkins and White & Case.
A partner at an international firm in the Middle East said: “HSBC is the leading project finance advisory bank in the region. If you’re doing project finance you’ve got to have a relationship with it, so it’s a really important review process.
“All the big firms in the region will either already be on the panel or hoping to get on it.”
He expected the legal roster, once reviewed, to act alongside HSBC as advisers on project finance, corporate finance, private equity, general finance work, M&A and privatisation work in the region.