DLA Piper advises Legal & General on GBP500 million buy-in with Deutsche Bank Pension Scheme
Global law firm DLA Piper has advised Legal & General Society Limited (Legal & General) on its around GBP500 million buy-in with the Deutsche Bank (UK) Pension Scheme. This latest buy-in secures the benefits of some 2,000 retirees, and is the Scheme’s first buy-in to extend to deferred members.
Amrit McLean, partner and head of de-risking at DLA Piper, comments: “It was fantastic to work once more with the Legal & General team, to ensure the success of this efficient and significant buy-in. Congratulations to all parties on a well-run transaction, and to our DLA Piper de-risking team who delivered great work for our client against short timescales. Our significant and well-established de-risking team continues to grow, supporting clients through huge demand from schemes in the midst of this busy market.”
The DLA Piper de-risking team, as led by Amrit McLean, comprised senior associate Oritsema Ejuoneatse, associate Lucy Staves, legal directors Elmer Doonan, Rozet Shah, Eve Wallace and Michael Dando, and trainee solicitor Ross Griffiths.
This latest buy-in takes the Deutsche Bank Pension Scheme’s total buy-ins to around GBP1,500 million to-date, including around GBP570 million buy-in between Legal & General and Deutsche Bank Pension Scheme.