HSBC adds Davis Polk to global panel with regular UK advisers reappointed
Bank completes legal panel review with new US addition
December 19, 2016 at 05:57 AM
2 minute read
HSBC has completed a global panel review, with US firm Davis Polk & Wardwell winning a place on the roster.
Existing panel members Allen & Overy (A&O), Clifford Chance, Freshfields Bruckhaus Deringer and Linklaters have all been reappointed alongside Norton Rose Fulbright.
The lineup was last reviewed in 2012, when three US firms won first-time roles – Cleary Gottlieb Steen & Hamilton, Latham & Watkins and Mayer Brown.
HSBC's chief legal officer is former US government lawyer and litigator Stuart Levey, who succeeded Richard Bennett in the role in 2012.
Earlier this year, A&O and Norton Rose Fulbright were handed roles to advise HSBC on splitting its retail and investment banking operations to comply with incoming regulations. A&O's role also covered the transfer of the bank's retail headquarters from London to Birmingham.
In other bank panel news, Barclays recently appointed six of its core advisers to a new innovation panel being piloted by the bank. The bank selected the six firms – understood to include Ashurst and Simmons & Simmons – based on four key criteria: the use of legal project managers, collaboration with other law firms or other services providers, sophistication around pricing arrangements, and thought leadership.
Meanwhile, Dutch banks ABN AMRO and NIBC also both kicked off reviews of their legal panels this month.
HSBC declined to comment.
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