Pinsent Masons, Gowling WLG, King & Wood Mallesons and specialist commercial firm Cannings Connolly have been appointed to Royal London Asset Management’s (RLAM) reduced real estate panel following a review.
The panel, which has been trimmed from six firms, took effect on 1 June and will last at least three years. The process was overseen by Kevin Bould head of support services, in conjunction with RLAM’s in-house legal team.
In a statement, Bould said: ‘Royal London Asset Management completed a tender for its property legal services which sought to align its sector driven approach with specialist advisers. We have appointed King & Wood Mallesons LLP, Cannings Connolly, Gowling WLG and Pinsent Masons on retail, offices and industrial property work with effect from the 1 June 2016.’
Established in 1988, RLAM is a fund management company with assets under management of more than £87.9bn. It is wholly owned by Royal London, the UK’s largest mutual life and pensions company.
Ongoing panel reviews at the moment include the Crown Estate, which has launched a review of its external legal adviser panel following the departure of general counsel Vivienne King who has been replaced by former deputy Rob Booth.
The Crown Estate, which has £13bn of assets under management, operates a structured panel for significant legal work and aims to develop long term relationships with the firms it uses. On a rolling basis, panel mandates are retendered typically every five years.