Mayer Brown loses its spot as Japanese bank Nomura reviews its legal panel

City-of-London-Article-201606261633Mayer Brown has lost its spot on Japanese bank Nomura’s legal panel after a review, which saw eight new entrants.

The US firm was one of the first law firms to sign up to the panel. It originally won a hotly contested place on the bank’s Europe Middle East and Africa (EMEA) legal roster in 2010, when it was first set up.

White & Case and Slaughter and May are newcomers to the bank’s panel, joining established advisers such as Freshfields Bruckhaus Deringer, Linklaters and Allen & Overy.

Osborne Clarke, Travers Smith and Ashurst have also retained their panel positons.

The review kicked off in March, with firms including Herbert Smith Freehills, Milbank Tweed Hadley & McCloy and Shearman & Sterling asked to pitch.

The review was led by regional general counsel (GC) Chris Barlow. Barlow was appointed to the role in 2014, replacing Piers le Marchant who was hired as JP Morgan’s EMEA GC.

The panel was last reviewed in 2013. The review saw Osborne Clarke regain its spot, having been left off in 2010, and Clifford Chance drop off the roster.

The bank’s panel in 2010 marked Nomura’s first attempt to rationalise its external legal counsel since it took on Lehman Brothers’ European and Middle Eastern equities and investment banking businesses in 2008, alongside its Asia-Pacific operations.

Other outstanding bank panel reviews include Barclays, which is expected to announce the result of its tender process on Friday (1 July).