Will Sutton, Reed Smith’s Global Corporate Group partner who led the team, commented: “We are particularly pleased to have worked on this deal for the trustees. Having advised on transactions with all the leading insurers in this market, our reputation of providing workable advice, as well as being practical and collaborative in negotiations, was a key element in securing a good deal with Standard Life for our client. The trust we have built up with insurers as expert, but fair, players, means we ensure we get a good result for our trustee and sponsoring employer clients.”
Keith Jones, chairman of the Whitbread Group Pension Fund, said “This buy-in is a key stage in the Fund’s de-risking journey. It helps to provide greater certainty to members about the security of their benefits and we are delighted to have completed it with Standard Life.
“It was clear to all of us that Reed Smith have great expertise in relation to this type of transaction, as well as in all the other areas on which they have advised us over the years.
They struck a great balance between pragmatism and securing the best Trustee outcomes where it really mattered. Many thanks to Justine, Will and the wider team for their support.”
Justine Senior, Reed Smith counsel and lead lawyer for the client, added: “It was fantastic to get to this point in the life cycle of the Whitbread Group Pension Fund, especially for a long-standing client whom we have advised for many years on this journey.”
Read more about the transaction in Standard Life’s announcement at standardlife.co.uk.
About Reed Smith
Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, we deliver smarter, more creative legal services that drive better outcomes for our clients. Our deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions, and regulatory matters. Now celebrating more than 140 years of service, our firm spans 30 offices with 3,000 people, including 1,700 lawyers.
For more information, please visit www.reedsmith.com.
