08:20, June 05 459 0

2017-06-05 08:20:07
Société Générale kickstarts global panel review

Société Générale has kickstarted its global panel review process, involving firms such as Herbert Smith Freehills (HSF) and Norton Rose Fulbright.

The bank carries out a review every five to six years, last selecting a dozen firms in December 2011.

It is understood to have started the process last week, with firms asked to tender for new spots.

Around 12 firms form its current roster of advisers; two of which are magic circle firms Allen & Overy and Clifford Chance. The latter advised the bank earlier this year as it had claims of more than $480m struck out after putting them on hold.

HSF is also a longstanding adviser, representing the bank on the long-running dispute with the Libyan Investment Authority. The bank settled the case last month and agreed to pay €963m.

Other advisers, according to The Lawyer Market Intelligence, include Hogan Lovells, Jones Day, Norton Rose Fulbright and Simmons & Simmons.

Société Générale’s legal function is run by Dominique Bourrinet in Paris.

The bank restructured its European division last year after the retirement of Western European general counsel Mark Nimmo, splitting his role in two.

New general counsel Sarah Linstead is responsible for London only, and global banking legal chief Mark Duncan assumed responsibility for Germany, Switzerland, Luxembourg, Italy, Spain, the Netherlands and Belgium.

Société Générale declined to comment.