Global real estate business Cushman & Wakefield has put Lovells and Pinsent Masons on alert as it launches a European panel review.
Executive officer and European counsel Ben Bennett said: “We’re trying to be more coordinated. We want to make sure that we’re maximising our spend and getting economies of scale and we will drop firms where the relationships aren’t strong.”
Bennett will begin a review within six months to weed out weak relationships and assess its representation in new jurisdictions.
Cushman has opened offices in the Ukraine and Finland in recent months, as well as buying a business in Romania.
Bennett said a new adviser for those regions “could be an international firm or capable local firms, but we’re certainly not prepared to pay London rates for work in the Ukraine”.