Pensions Associate
- Recruiter
- Ashurst LLP
- Location
- London (Central), London (Greater)
- Salary
- competitive
- Posted
- 19 Jul 2016
- Closes
- 16 Aug 2016
- Job Title
- Associate
- Practice Area
- Pensions
- Contract Type
- Permanent
- Hours
- Full Time
July 2016
ASHURST'S PENSIONS TEAM
About Ashurst
Ashurst is a leading global law firm with a history spanning almost 200 years, and clear strategy for our future growth. Our in-depth understanding of our clients and commitment to providing exceptional standards of service have seen us become a trusted adviser to local and global corporates, financial institutions and governments in all areas of commercial law.
Our people are our greatest asset. We bring together lawyers of the highest calibre with the technical knowledge, industry experience and regional know-how to provide the incisive advice our clients need. How we share our knowledge across our business, and with our clients, is critical in delivering value to our clients.
We currently have 27 offices in 16 countries and a number of referral relationships that enable us to offer the reach and insight of a global network, combined with the knowledge and understanding of local markets. With 420 partners and a further 1,450 lawyers working across 10 different time zones, we are able to respond to our clients wherever and whenever they need us.
Our clients value us for being approachable, astute and commercially minded. As a global team we have a reputation for successfully managing large and complex multi-jurisdictional transactions, disputes and projects, and delivering outstanding outcomes for clients in innovative ways.
Ashurst regards an inclusive and diverse environment as critical to its business success. Accordingly, the firm encourages applications from candidates representative of all talent pools. Find about more about our Diversity and Inclusion Strategy on the "About Us" section of our website.
Overview:
Our pensions team advises across a broad range of sectors including financial services, insurance, healthcare, manufacturing natural resources and real estate. Our pensions team is fully integrated with our incentives and employment practice and has daily interaction with the rest of the firm's departments such as corporate, international finance, disputes, restructuring, tax and regulatory. We also have pensions lawyers throughout Europe, Asia and Australia.
Recent work:
Recent work includes advising the following clients on the following matters:
- the National Grid trustees in relation to the drafting and negotiation of a £13 billion investment management agreement with Legal & General;
- the US Unsecured Creditors' Committee of Nortel US on the wide-ranging and complex multi-jurisdictional issues relating to various claims by the trustees of the Nortel UK defined benefit scheme (totalling £2.1 billion). In particular, the team advised on the use of powers by the Pensions Regulator to impose financial support directions on certain Nortel entities (including the validity of the Pension Regulator's action and whether this violated the insolvency laws in the relevant jurisdiction);
- the Kodak unsecured creditors committee on the restructuring of pension arrangements to allow the Kodak group to emerge from a Chapter 11 insolvency process;
- Qinetiq on the successful implementation of a novel real estate backed funding partnership (PFP) with the trustees of the Qinetiq Group Pension Scheme;
- JP Morgan on the capacity of pension scheme trustees to invest, either directly or through an investment manager, in derivative contracts under ISDA and GMRA Master Agreements;
- Lendlease on the pensions aspects of the sale of a subsidiary including the management of post-completion participation of the target entity in its defined benefit pension scheme;
- Lufthansa on restructuring its UK pension arrangements to facilitate the significant KLM and Air France joint venture, together with advising on scheme funding;
- Mizkan Group on the pensions aspects of the acquisition of Branston Pickle, Sarson's Vinegar and Harwards Pickle businesses from Premier Foods;
- BHP Biliton with pensions advice on auto-enrolment including advice on the requirements relating to international assignees and in relation to scheme structure and member communications;
- Goodhead Scheme Trustees on the entry of the scheme into the PPF;
- McGraw Hill Group Pension Scheme Trustees on ongoing matters and in relation to the restructuring of the group and the transfer of scheme employer assets to a new group entity, changes to the benefit structure of the scheme and entry into guarantee arrangements;
- the trustees of three defined benefit schemes in relation to the transfer of scheme assets and liabilities to another group scheme as part of a merger process.;
- trustees of the NIAB pension scheme on scheme funding and on an ongoing basis;
- trustees of the Hunters & Frankau pension scheme on an ongoing basis
- trustees of the London United Busway pension scheme on an ongoing basis.
Job overview:
We would like to recruit a pensions lawyer who has had experience working in the area of pensions and in particular is comfortable with working on corporate transactions as well as day to day advisory pensions work for both corporate clients and trustees. Experience advising in relation to investment matters and insurance based solutions (e.g. buy-outs. buy-ins and longevity swaps) would be a bonus but is not essential.
Essential skills and experience:
- Qualified lawyer with post-qualification experience at a major law firm
- Experience of pensions law
- Experience of large scale transactions
- Experience of drafting, reviewing and negotiating pensions related documents
- investment and insurance experience would be a bonus
- An adaptable person who is a fast learner
- A team-player who can work effectively with colleagues at all levels
- Client facing experience and the ability to understand and respond effectively to client needs
- Experience of negotiating with counterparts
- A commercial approach
- Good team fit
Career advancement:
An established Associate Career Path Framework is in place clearly defining expectations and outlining opportunities for promotion.
Secondment opportunities:
Opportunities often arise for associates to spend time on secondment in house with a key client of the firm. From time to time, secondment opportunities also come up within other Ashurst offices in Europe, North America, Asia and Australia.