Lloyds Banking Group has completed a review of its specialist sub-panel, with 24 firms winning places including Berwin Leighton Paisner, Simmons & Simmons, Bond Dickinson and Reed Smith.

The bank's main legal panel, which the specialist panel sits beneath, was reviewed last year with eight firms making the cut.

Group general counsel Kate Cheetham led that review, which saw existing panel firms CMS Cameron McKenna, Eversheds, Herbert Smith Freehills, Hogan Lovells, Linklaters, Allen & Overy, Ashurst and Addleshaw Goddard retain their places.

DLA Piper and Norton Rose Fulbright both came off the bank's roster.

A Lloyds Banking Group spokesperson said: "Following a rigorous and competitive tender process, the list of the group's specialist legal panel was finalised in December 2016.

"The panel will include 24 firms that have been designated as specialist because they are able to offer services which are fully aligned to the needs of our group's businesses. As previously announced, we will be announcing our specialist firms for our commercial banking division during the first half of 2017."

After a review of its sub-panels in 2015, Lloyds stated that it wanted to hand more work to its core panel of advisers.

The bank has 16 sub-panels, which include restructuring, insurance, group property, IP/data, pensions, HR, legal process support, financial services and financial markets.