Credit Agricole is close to finalising its new global legal panel after a competitive tender process that kicked off over the summer, as Societe Generale begins talking to its advisers with a view to launching its own review next year.

Credit Agricole's review is being led by Paris-based head of legal and compliance Martine Leimbach, with the results due before the year's end. All of the firms sitting on the existing panel were invited to pitch, including Ashurst, Baker & McKenzie and Norton Rose.

The panel will also be used by the group's investment banking arm Credit Agricole CIB – formerly known as Calyon – which was renamed earlier this year (6 February).

The investment banking division has previously instructed a range of UK firms including Ashurst, legacy Denton Wilde Sapte and Freshfields Bruckhaus Deringer.

One partner close to the process commented: "It required more documentation than usual – not only the average requests for billing and corporate social responsibility arrangements, but also a request for the individual biographies of the lawyers who would be advising the bank."

Separately, Societe Generale has invited several firms to Paris to discuss issues including fee arrangements and value-added services in preparation for its panel review next year.

The review, which will officially kick off in January 2011, is being overseen by head of legal and compliance Frederic de Brouwer, who has recently relocated from Paris to Tokyo. The soundings are being held by head of legal for Europe David Bourdon.

Both banks declined to comment on the reviews.