Deutsche Bank has named magic circle quartet Allen & Overy (A&O), Clifford Chance (CC), Freshfields Bruckhaus Deringer, Linklaters and Slaughter and May best friend Hengeler Mueller on its German panel.

The five firms, which have strong links with the banking giant, are thought to have been named on the roster last month.

The bank reviews its regional panels in the Asia-Pacific, France, Germany, US and Western Europe regions every two years.

Deutsche Bank confirmed it had conducted a review, although said it had not yet finished the process.

All four UK-based firms also have relationships with Deutsche Bank in the UK.

Deutsche Bank is one of Europe's most coveted banking clients and has been involved in major deals including a role as joint co-ordinator on VTB Bank's $8bn (£3.9bn) listing in May. On that deal the bank instructed Linklaters, which fielded a team out of its London and Moscow offices headed by London capital markets partner Jason Manketo.

The bank also underwrote a $5.5bn (£2.9bn) placing for Anglo-Swiss mining giant Xstrata, understood to be the second-largest rights issue ever by a UK-listed company, earlier this year. On that occasion, the bank opted for CC.

The magic circle law firms are well known for their relationships with the world's top banks. All five magic circle firms are on HSBC's panel and the four international firms are formal advisers to the Royal Bank of Scotland. Earlier this summer the firms secured places on Barclays' panel. A&O and CC were each appointed to nine of the 10 sub-panels, while Freshfields was appointed to eight.

Hengeler is also well known for its banking connections. In the last 12 months the firm has acted for a slew of the locally-active banks, including Societe Generale, Dresdner Kleinwort and Bear Stearns. Notably, the firm advised on the privatisation of Landesbank Berlin in June, in a deal worth around E5bn (£3.3bn).