UK: Mayer, Brown, Rowe & Maw LLP Advises M&G in One of the Largest Third Party Administration Deals in UK Fund Management Industry
Last Updated: 10 December 2002

The London office of Mayer, Brown, Rowe & Maw have advised M&G, one of the largest fund managers in the UK, on outsourcing the administration and related support activities for its UK retail product range to International Financial Data Services.

As part of the deal, M&G will sell two properties in Chelmsford, Essex for £10.6 million and will transfer up to 320 employees to IFDS. The transaction covers the administration of all M&G's UK retail products and the Prudential's unit trust range, making it one of the largest deals of its kind in the UK fund management industry. M&G will retain its customer-contact and intermediary services.

Andrew Scott of MBR&M said. "We assembled a highly experienced team of 12 lawyers to advise on the commercial, property, employment, tax and regulatory aspects of the contract. Having built a strong and long standing relationship with M&G, we are delighted to have advised them on this complex transaction. The deal was further proof of our experience in third party administration in the fund management sector as we previously advised M&G International on the outsourcing of the administration of their European product range".

Outsourcing partner Andrew Scott led the Mayer, Brown, Rowe & Maw team and was assisted by corporate assistant, Kate Ball-Dodd.

Charles Russell advised International Financial Data Services.

About Mayer, Brown, Rowe & Maw

  • Mayer, Brown, Rowe & Maw is one of the largest law firms in the world with 13 offices worldwide, including representations in the world's major financial centres; London, Paris, Frankfurt and New York. Our London office consists of over 90 partners, 300 lawyers and a total staff of nearly 600. We deliver multi-jurisdictional advice to the world's leading companies, financial institutions and multinational businesses.
  • Mayer, Brown, Rowe & Maw is a combination of Mayer, Brown, Rowe & Maw LLP (an English limited liability partnership) and Mayer, Brown, Rowe & Maw (a US general partnership).

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