A raft of top firms including Allen & Overy and Herbert Smith Freehills have been called upon to assist on a £1.4 billion pension deal orchestrated by investment bank UBS.
The ‘longevity swap’ deal – which is being overseen by the trustee of the UBS U.K. pension and life assurance scheme – covers “the majority” of the scheme’s defined benefit pensioners, and was arranged with Zurich as insurer and Canada Life as reinsurer, according to an announcement by Mercer, who acted as an investment adviser to the trustee.
