UK firms are gearing up for a surge of panel reviews by major financial institutions, with a number of Europe's biggest banks set to review their advisers in the coming months.

Barclays and Deutsche Bank have both kicked off reviews of their legal rosters, while Credit Agricole's investment banking arm Calyon is setting up its first-ever panel.

Barclays general counsel Mark Harding launched an appraisal of its legal advisers last week. The bank will look at its main advisers, as well as firms across 11 specialist panels, for sectors such as securitisation, litigation and corporate recovery.

It is understood that around 12 firms will be invited to tender for places on Barclays' coveted main panel, which currently comprises Allen & Overy (A&O), Clifford Chance (CC), DLA Piper, Freshfields Bruckhaus Deringer, Linklaters, Lovells and Simmons & Simmons.

Calyon – which recently appointed BNP Paribas' Hubert de Vauplane as its head of legal – is in the early stages of setting up its first-ever panel. The bank has previously instructed a range of firms including Ashurst, Baker & McKenzie, Denton Wilde Sapte, Freshfields and Norton Rose. The review will be closely watched as the bank has become increasingly influential in the infrastructure investment and structured debt sectors.

Deutsche Bank is said to be examining its legal advisers in a process that started late last year, and has asked firms to pitch for panel places in a number of locations. The bank last reviewed its panel in 2005.

Partners across the City said the rash of reviews was unsurprising given that many of the major banks started using panels at a similar time.

Norton Rose finance head Stephen Parish said: "There are definitely quite a few reviews going on at the moment. The whole issue of panels and reviews is just life now. Banks have decided that panels are a good thing, they help them achieve quality control and manage their relationships. Firms will all be pushing to get on the panels because once you are on you are pushing at an open door."

He added: "Law firms now have large business development departments to deal with the all the pitch documents."

In addition, HSBC is set to look at its advisers in the summer and the Royal Bank of Scotland recently finished a review of its legal roster.

Meanwhile, French bank BNP Paribas has recently sent out requests for information to its regular advisers, asking about how other banking clients run their panels.

Additional reporting by Michelle Madsen.