The Pension Protection Fund has cut its legal panel down to six from 23, following a six month procurement process.
The contracts for the new panel will commence in February 2018 and include Gowling WLG, DWF, Herbert Smith Freehills, Hogan Lovells, Mayer Brown and Osborne Clarke. Gowling WLG, DWF and Osborne Clarke have also been selected to provide specialist services to schemes in PPF assessment therefore removing the need for a separate panel to deliver these services during this time.
Commenting, PPF director of legal, compliance and ethics Dana Grey said the new “streamlined legal panel” will allow them to develop better working relationships with the firms selected. He added that it will also “improve the quality of the service” it receives and “get the best value” for its spend on legal services.
“We are delighted to announce the successful procurement of our new legal panel. This appointment is the result of a robust procurement exercise and we are confident that this panel will provide the specialist services needed to drive our legal offering at the PPF,” he stated.