Award

Business Advisory Services

BANK OF ENGLAND

This public procurement record has 1 release in its history.

Award

12 Feb 2025 at 10:47

Summary of the contracting process

The Bank of England has successfully concluded the procurement process for Business Advisory Services under the CPV classification of Business and Management Consultancy and Related Services (code 79400000). This procurement aimed to secure services to aid the Bank in identifying efficiencies and reducing operational costs. The contract, awarded to Korn Ferry, comes under a selective procurement method specifically through a call-off from a framework agreement. The project spans from 18th June 2024 to 18th February 2025 and is valued at £600,000. The services will be delivered within the United Kingdom, specifically England, with the tender status marked as complete and the award status as active, with important dates including the award notice published on 12th February 2025.

This tender presents significant opportunities for businesses specializing in business and management consultancy to contribute to the optimisation of large-scale operations within major financial institutions. Firms with substantial expertise in advisory services and those adept at formulating cost-reduction strategies would find this contract particularly beneficial. Large firms like Korn Ferry, which has been awarded this contract, exemplify the kind of business well-suited to these opportunities due to their capacity to handle extensive and complex advisory engagements. As the Bank of England continues to seek operational efficiencies, there will likely be future opportunities for businesses that can provide innovative and effective consultancy services.

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Notice Title

Business Advisory Services

Notice Description

To provide services to support the Bank to identify efficiencies and reduce costs in Bank operations

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-028bef73-69d8-4cea-823f-13e789dfbd3f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/07370117-9da9-4f04-888c-8ed5dea0d9ad
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

79400000 - Business and management consultancy and related services

Notice Value(s)

Tender Value
£600,000 £500K-£1M
Lots Value
Not specified
Awards Value
£600,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
12 Feb 20251 years ago
Submission Deadline
30 May 2024Expired
Future Notice Date
Not specified
Award Date
29 May 20241 years ago
Contract Period
17 Jun 2024 - 18 Feb 2025 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC2R 8AH
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)

Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

KORN FERRY

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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