The four firms will advise on matters in all practice areas, but larger and international deals will remain the preserve of the bank’s global panel, which includes Allen & Overy, Clifford Chance, Linklaters, Lovells and Slaughter and May.
The bank undertook the rigorous review at the beginning of summer, enlisting an external consultant to help it review its lawyers worldwide; 13 shortlisted firms then made presentations in mid-September, with the bank finally announcing the results at the end
The final four firms have all advised the bank in the past, with both Addleshaws and Dentons receiving significant amounts of work. However, all four, especially Burges Salmon and Reed Smith, which have developed relationships more recently, can expect to receive greater amounts of work following the review.
Standard Chartered is the latest of a number of banks that has undertaken a major overhaul of its legal advisers in the last 12 months. Others include the Royal Bank of Scotland, Merrill Lynch, ING and Barclays.
Standard Chartered was unavailable for comment. The firms involved declined to comment.