Award

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

Resolution Procurement Framework 2023

BANK OF ENGLAND

This public procurement record has 2 releases in its history.

Award

18 Nov 2024 at 09:32

Award Notice
Tender

17 Feb 2023 at 17:27

Tender Notice
Summary of the contracting process

The Bank of England conducted an open tender procedure for the re-tender of its Resolution Procurement Framework 2023 and has awarded a 4-year framework agreement, which started on 15 September 2023. This agreement comprises five distinct lots: Financial Advice and Valuation Analysis, Restructuring and Insolvency, Corporate Financial Advisory, Operational Review and Analysis, and Resolution Delivery Support. The procurement process, governed by the European Directive 2014/24/EU, falls under the industry category of Business and Management Consultancy and Related Services, and the services are to be delivered across the UK.

This tender presents significant growth opportunities for businesses specializing in financial advisory, restructuring, insolvency, and operational planning, particularly those with experience in resolution frameworks and advisory support under stress scenarios for regulated entities. Businesses suited to compete include those capable of providing financial valuations in contingency planning, supporting bank administration and insolvency procedures, and offering comprehensive corporate finance advice. Firms that can demonstrate expertise in operational feasibility assessments and detailed resolution planning will find substantial opportunities within this framework.

How relevant is this notice?

Notice Information

Notice Title

Resolution Procurement Framework 2023

Notice Description

The Bank of England ('the Bank') conducted an open tender procedure for the re-tender of its Resolution Procurement Framework ("RPF") and has awarded a 4-year framework agreement split across the following 5 lots: - Lot 1 - Financial advice and valuation analysis; - Lot 2 - Restructuring and insolvency; - Lot 3 - Corporate financial advisory; - Lot 4 - Operational review and analysis; and - Lot 5 - Resolution delivery support. The RPF is the Bank's framework to appoint advisors to support work on resolution planning in business as usual and where a regulated entity is under stress. The Bank may seek advisory support for work to ensure that firms have adequate capabilities to deliver a resolution under the Resolvability Assessment Framework (RAF). The Bank may also seek advisory support to deliver a resolution (e.g. resolution valuations or insolvency practitioner support). This framework has been awarded on a non-exclusive and no commitment basis, therefore the Bank is not committed to spending the full framework value and payment is only made as and when requirements arise and are awarded to suppliers.

Lot Information

Financial Advice and Valuation Analysis

Advice in relation to valuation analysis for banks, CCPs, or insurers for the purpose of resolution contingency planning, including, but not limited to, the ex-ante and ex-post independent valuation work required by the Banking Act 2009.

Restructuring and Insolvency

Planning and advice in connection with the bank (or building society) insolvency procedure (BIP), bank administration procedure (BAP) and the special administration procedure for investment firms ("SAR").

Corporate finance advisory

Corporate finance advice and support to the Bank or a firm under the direction of the Bank in relation to preparing for execution of a sale, restructuring or funding transaction as part of a recovery or resolution plan.

Operational review and analysis

Advice to support the Bank in assessing the operational feasibility of resolution plans, and preparatory assessment and remediation work for contingency planning.

Resolution support services

The Bank may require additional support to deliver resolvability or contingency resolution planning. Suppliers would provide support in a range of activities including, but not limited to, project planning, document production and review, or detailed operational planning to ensure that a resolvability assessment or resolution is executed successfully.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-03a6a6
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/037125-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
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
£20,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£20,000,000 £10M-£100M

Notice Dates

Publication Date
18 Nov 20241 years ago
Submission Deadline
24 Mar 2023Expired
Future Notice Date
Not specified
Award Date
15 Sep 20232 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
Additional Buyers

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
Postcode Area
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
Not specified
Local Authority
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
19
Supplier Names

Accenture (UK) Limited

Alantra Corporate Finance LLP

Alixpartners Ltd

Alvarez & Marsal LLP

BDO LLP

Deloitte LLP

Ernst & Young LLP

Evelyn Partners LLP

FRP Advisory Group PLC

FTI Consulting Management Limited

Grant Thornton Limited

Interpath Ltd

Kroll Advisory Ltd

Mazars GB Limited

North Highland UK Limited

Oliver Wyman Limited

Pricewaterhousecoopers LLP

Reply Limited

Teneo Business Consulting Limited

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

Loading OCDS record...