French investment bank Société Générale has launched a global panel review, with a number of City firms expected to bid for places on the coveted roster.
SocGen last unveiled its list of legal advisers in early 2009 when Freshfields Bruckhaus Deringer, Orrick Herrington & Sutcliffe and White & Case lost out as eight firms were appointed.
The review officially gets underway next month, but the bank is understood to have already sent tender invitations to several UK, US and French firms.
A partner at one firm bidding for a place said: “We never quite know the timetable for these things but it’s more likely to be months than weeks.”
It is expected that the new global panel, as well as three local panels for France, the US and UK, will be in place by the end of the year.
Elsewhere, Barclays is also reassessing its panel. The review began in March, with the bank expected to strip down its current 50-strong roster.
The slimmer panel will take effect from 1 July.