Firms vie for spots as HSBC tees up Gulf panel review

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.

The bank’s global advisory panel includes Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters and Norton Rose.