Unveiling panel in first quarter of 2013
Shell general counsel Peter Rees confirmed to London-based newspaper Legal Week that the process had started and that a new panel is expected to be revealed by the end of the first quarter of this year.
The 2010 review saw fewer than 10 firms appointed, with magic circle duo Clifford Chance and Allen & Over taking the limelight along with Anglo-US firm Hogan Lovells and Washington-DC based Jones Day.
Elsewhere, German electronics manufacturer Siemens has added UK franchised law firm Eversheds and leading regional practice Osborne Clarke to its panel among a series of cuts that have seen its legal team reduced from six to three.
According to The Lawyer newspaper, the two firms join existing panel appointee Reed Smith, while Addleshaw Goddard, Midlands firm Hill Hofstetter, Manches, Pinsent Masons and Watson Farley & Williams were all given the chop.
And Barclays bank has rejigged its panel review system, pushing back this summer’s expected assessment to next year and extending the terms of its review cycle from two to three years.
Legal Week reports that the bank cited several explanations for the change, including satisfaction with the current line-up. In its last review, the bank appointed 117 firms across 13 panels and three UK sub-panels for its investment banking and markets arm
One relationship partner said: ‘As an incumbent firm, it's obviously good news that the terms have been extended. The banks have to weigh up the amount of time these reviews take them, as they do put a lot of consideration and resources into the process.’