LG recruit hands MoFo plum Skandia role
MoFo closes Skandia outsourcing deal after hire of Jon Edgell from top 50 UK firm
January 16, 2007 at 07:09 PM
2 minute read
Morrison & Foerster (MoFo) has closed its first deal for the UK arm of Skandia – advising the savings group on a $200m (£103m) outsourcing deal.
The deal, which closed just before Christmas, will see the bulk of Skandia's UK IT function, including some 250 employees, outsourced on a five-year contract to India's HCL Technologies.
MoFo won the instruction through ex-Lawrence Graham outsourcing partner Jon Edgell, who joined the firm in October last year.
Edgell pitched for the Skandia mandate a little more than a year ago while still at Lawrence Graham. It is the first significant piece of work he has handled for the company, which historically uses Ashurst for much of its corporate work.
Edgell led the MoFo team, assisted by associates Susan McLean and Jonathan Lea, who both joined the firm with Edgell from Lawrence Graham.
Lawrence Graham employment partner Simon Malcolm advised Skandia on human resources issues as he had already started working on the deal before Edgell left.
DLA Piper advised India's HCL Technologies with outsourcing partner Kit Burden leading the team.
Edgell told Legal Week: "I have known Skandia for a while but this is the first proper project I have done with them. When I moved to MoFo it made sense for the deal to come over with me. I would hope to work with them again."
MoFo has a complement of four London outsourcing partners including Edgell and office managing partner Julian Thurston.
The US firm's previous transactions include advising Tata Consultancy Services on a $65m (£34m) seven-year IT outsourcing deal with Somerfield and advising life insurer Pearl on its £480m outsourcing to TCS.
Skandia's UK arm manages total assets of around £33bn. Since 2006 the Skandia group has been owned by FTSE-listed financial services company Old Mutual.
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