Allen & Overy success at the FT Pension and Investment Provider Awards
23 May 2014
The judges were “wowed” by our achievement of completing a major pension scheme derisking transaction for the Trustee of the InterContinental Hotels UK Pension Plan in just 19 days, securing a deal with a GBP440m policy value covering around 3,000 members. The judges acknowledged that it was an unprecedented step to give this particular award to a law firm; their decision was based on our strength in advising trustees and sponsors of defined benefit pension schemes on buyouts, buy-ins and longevity swaps, using the key criteria of performance, innovation and service standards. They were also impressed with the pensions team’s innovative podcast service for clients.
The awards were open to actuarial and investment consultants, accountants, investment managers and law firms together with other pensions industry consultants and advisers. Submissions were judged by a panel of pension industry experts from a range of companies and groups.
This success recognises the work of Allen & Overy’s Pension Risk Group, which has been at the forefront of recent market developments. This cross-practice group brings together our experts across a broad range of legal specialisms to help clients reduce defined benefit pension liability risk and control volatility.
Pensions partner Neil Bowden received the award for the team.
"I was delighted to receive this prestigious award on behalf of Allen & Overy. Being the first law firm to win in this category is particularly satisfying and represents recognition by the pensions industry of all the great work we are doing in the pension risk area, including key deals over the past 18 months” said Neil.
For more information on our Pension Risk Group (including briefings and a video on the buy-in/buy-out deal mentioned above), go to www.allenovery.com/pensionrisk.