Nomura nears completion of EMEA panel review

Investment bank Nomura is undertaking a review of its preferred roster of law firms in Europe, the Middle East and Africa (EMEA).

The firm does not operate a rigid panel system and instead works with a group of preferred supplier law firms. The review is being overseen by co-European general counsel Mark Chapman and Piers Le Marchant and is due for completion by the autumn.

A similar review was conducted in October 2008, shortly after Nomura’s acquisition of Lehman Brothers Holdings’ investment banking and equities operations in Europe and Asia (6 October 2008).

Dewey & LeBoeuf, ­Norton Rose and Travers Smith were added to the roster, joining previous members Allen & Overy, Ashurst, Freshfields Bruckhaus Deringer, and Linklaters. SJ Berwin and Osborne Clarke currently advise the company on employment issues.

When the last review was carried out Burges Salmon was the only firm to be dropped, while Clifford Chance remains the only magic circle firm not on the list.

The number of preferred supplier firms is expected to be expanded as a result of the company’s increased activity in the EMEA region following its 2008 acquisition.